81331 THE LITTLE 2014 DATA BOOK ON FINANCIAL DEVELOPMENT © 2014 International Bank for Reconstruction and Development / The World Bank 1818 H Street NW, Washington DC 20433 Telephone: 202-473-1000; Internet: www.worldbank.org Some rights reserved 1 2 3 4 17 16 15 14 This work is a product of the staff of The World Bank with external contributions. Note that The World Bank does not necessarily own each component of the content included in the work. The World Bank therefore does not warrant that the use of the content contained in the work will not infringe on the rights of third parties. The risk of claims resulting from such infringement rests solely with you. The findings, interpretations, and conclusions expressed in this work do not necessarily reflect the views of The World Bank, its Board of Executive Directors, or the governments they represent. The World Bank does not guarantee the accuracy of the data included in this work. 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License: Creative Commons Attribution CC BY 3.0 Translations —If you create a translation of this work, please add the following disclaimer along with the attribution: This translation was not created by The World Bank and should not be considered an official World Bank translation. The World Bank shall not be liable for any content or error in this translation. All queries on rights and licenses should be addressed to the Office of the Publisher, The World Bank, 1818 H Street NW, Washington, DC 20433, USA; fax: 202-522-2625; e-mail: pubrights@worldbank.org. ISBN (paper): 978-1-4648-0081-8 ISBN (electronic): 978-1-4648-0082-5 DOI: 10.1596/978-1-4648-0081-8 The Little Data Book on Financial Development 2014 is a product of the Development Research Group and Development Data Group of the Development Economics Vice Presidency of the World Bank. Design by Communications Development Incorporated, Washington, D.C. Contents Acknowledgments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . iv Foreword. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .v Data notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vi Regional tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 World . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 East Asia and Pacific . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 Europe and Central Asia. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Latin America and the Caribbean . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Middle East and North Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 South Asia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Sub-Saharan Africa . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Income group tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Low income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Middle income. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Lower middle income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Upper middle income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Low and middle income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 High income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Euro area . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Country tables (in alphabetical order) . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Glossary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 220 The Little Data Book on Financial Development 2014 iii Acknowledgments The Little Data Book on Financial Development 2014 is a part of a broader data-collection effort related to the World Bank’s Global Financial Development Report 2014: Financial Inclusion. The Little Data Book was prepared under the oversight of Aslı Demirgüç-Kunt (Director of Research, World Bank) by a team led by Martin Cˇ ihák (team leader, Global Financial Development Report, 2014) and comprising Subika Farazi and Amin Mohseni-Cheraghlou. The team was assisted by Hedia Arbi. In compiling and updating the databases underlying the report, the team built on other data compilation efforts at the World Bank Group, including the work of Erik Feyen and Katie Kibuuka. Financial support from the Knowledge for Change program and International Finance Corporation is gratefully acknowledged. Production of this volume was managed by the Development Data Group under the direction of Shaida Badiee, with a team consisting of Azita Amjadi, Liu Cui, Shelley Fu, Buyant Erdene KhaItarkhuu, and William Prince. The book was designed by Jomo Tariku based on an original design by Communications Development Incorporated. Typesetting was done by Barton Matheson Willse & Worthington. Stephen McGroarty, Nora Ridolfi, and Janice Tuten from the World Bank’s Publishing and Knowledge Division oversaw publication and dissemination of the book. iv 2014 The Little Data Book on Financial Development Foreword The Little Data Book on Financial Development 2014 is a pocket edition of the Global Financial Development Database published as part of the work on the Global Financial Development Report 2014: Financial Inclusion. The Global Financial Development Database has been updated and includes new indicators, especially on financial access. Reflecting the theme of this year’s report, The Little Data Book has put more emphasis on access indicators and, in particular, includes additional variables capturing different aspects of access to financial institutions. The Global Financial Development Database is an extensive dataset of financial system characteristics for 202 economies. The database includes measures of the (1) size of financial institutions and markets (financial depth), (2) degree to which individuals can and do use financial services (access), (3) efficiency of financial intermediaries and markets in intermediating resources and facilitating financial transactions (efficiency), and (4) stability of financial institutions and markets (stability). For a complete description of the dataset and a discussion of the underlying literature, see Martin C ˇ ihák, Aslı Demirgüç-Kunt, Erik Feyen, and Ross Levine, 2012, “Benchmarking Financial Systems Around the World.” Policy Research Working Paper 6175, World Bank, Washington, D.C. (hereafter C ˇ ihák, Demirgüç-Kunt, Feyen, and Levine, 2012), and Martin C ˇ ihák, Aslı Demirgüç-Kunt, Erik Feyen, and Ross Levine, 2013, “Financial Development in 205 Economies, 1960 to 2010.” Journal of Financial Perspectives 1 (2): 17–36. There is ample evidence on the role financial sector development plays in economic development, poverty alleviation, and economic stability. However there are serious shortcomings associated with measuring the concept of the “functioning of the financial system.” Recognizing the need for good data to better understand the concept of financial development, the World Bank’s Development Economics Vice Presidency and Financial and Private Sector Vice Presidency launched last year a Global Financial Development Database, an extensive worldwide database that combines and updates several financial data sets. The data highlights the multidimensional nature of financial systems. Deep financial systems do not necessarily provide high degrees of financial access; highly efficient financial systems are not necessarily more stable than the less efficient ones, and so on. Each of these characteristics has an association with aspects of the broader socioeconomic development, and each is in turn strongly associated with financial sector policies and other parts of the enabling environment for finance. A basic comparison of data confirms that while financial systems in developing economies tend to be less deep, provide less access, and are somewhat less efficient, their stability has been comparable to financial systems in developed countries in recent years. For instance, the average depth of financial institutions’ (measured as private credit by deposit money banks to gross domestic product [GDP]) and markets (measured as stock market capitalization plus outstanding domestic private debt securities to GDP) in developed economies is more than twice of that in developing economies. However in terms of stability of financial institutions (measured by the Z-score), on average the banking systems in developing economies are less volatile than in developed economies. Similarly, financial markets’ stability (measured as the stock price volatility) is on average higher for developing economies in comparison to developed economies. The Little Data Book on Financial Development 2014 v Data notes The data in this book are for 2001, 2006, and 2011. Figures in italics indi- cate data for years other than those specified and report data for the closest year available. Symbols used: .. indicates that data are not available or that aggregates cannot be calculated because of missing data 0, 0.0, or 0.00 indicates zero or a number small enough that it would round to zero at the displayed number of decimal points $ indicates current U.S. dollars Data are shown for economies with population greater than 30,000 or for smaller economies if they are members of the World Bank. The term country (used interchangeably with economy) does not imply political independence or official recognition by the World Bank but refers to any economy for which the authorities report separate social or economic statistics. Aggregate data for ratios, shares, and percentage rates are medians. The financial development data in this book are a small slice of the informa- tion contained in the Global Financial Development Database (GFDD). For more information about the GFDD and the Global Financial Development ˇ Report please see Cihák, Demirgüç-Kunt, Feyen, and Levine, 2012 and visit http://worldbank.org/financialdevelopment, http://data.worldbank.org /data-catalog/global-financial-development, and http://databank.worldbank .org/. An important part of the financial inclusion data in GFDD comes from the Global Findex database (for more information please see Asli Demirgüç-Kunt and Leora Klapper, 2012, “Measuring Financial Inclusion: The Global Findex Database.” Policy Research Working Paper 6025, Word Bank, Washington, D.C., hereafter Demirgüç-Kunt and Klapper, 2012). Indicators with underlying data from Bankscope—Bureau Van Dijk are con- structed using bank-by-bank unconsolidated data. These indicators will be updated throughout the year to reflect Bankscope updates. Indicators based on data from the Enterprise Surveys do not necessarily pertain to the same year across countries. These surveys are conducted in different years across different countries and the figures reported correspond to data from the clos- est year available for each country. vi 2014 The Little Data Book on Financial Development Regional tables The country composition of regions is based on the World Bank’s analytical regions and may differ from common geographic usage. The regions exclude high income economies. East Asia and Pacific Cambodia, China, Fiji, Indonesia, Kiribati, Democratic People’s Republic of Korea, Lao People’s Democratic Republic, Malaysia, Marshall Islands, Federated States of Micronesia, Mongolia, Republic of the Union of Myanmar, Palau, Papua New Guinea, Philippines, Samoa, Solomon Islands, Thailand, Timor-Leste, Tuvalu, Tonga, Vanuatu, Vietnam Europe and Central Asia Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Georgia, Hungary, Kazakhstan, Kosovo, Kyrgyz Republic, Former Yugo- slav Republic of Macedonia, Moldova, Montenegro, Romania, Serbia, Tajikistan, Turkey, Turkmenistan, Ukraine, Uzbekistan Latin America and the Caribbean Argentina, Belize , Bolivia, Brazil, Colombia, Costa Rica, Cuba , Dominica, Dominican Republic, Ecuador, El Salvador, Grenada, Guatemala, Guyana, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Paraguay, Peru, St.  Lucia, St. Vincent and the Grenadines, Suriname, República Bolivariana de Venezuela Middle East and North Africa Algeria, Djibouti, Arab Republic of Egypt, Islamic Republic of Iran, Iraq, Jordan, Lebanon, Libya, Morocco, Syrian Arab Republic, Tunisia, West Bank and Gaza, Republic of Yemen South Asia Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan, Sri Lanka Sub-Saharan Africa Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Democratic Republic of Congo, Republic of Congo, Côte d’Ivoire, Eritrea, Ethiopia, Gabon, The Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Rwanda, São Tomé and Príncipe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, Sudan, Swaziland, Tanzania, Togo, Uganda, Zambia, Zimbabwe The Little Data Book on Financial Development 2014 1 World data Gross domestic product ($ billions) 70,371.4 Population (millions) data 6,965.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 26.0 28.7 37.1 Deposit money banks’ assets to GDP (%) 35.2 38.4 44.9 Nonbank financial institutions’ assets to GDP (%) 7.7 5.6 4.9 Depth—Financial Markets Stock market capitalization to GDP (%) 25.4 42.4 31.5 Stock market total value traded to GDP (%) 6.1 6.9 4.8 Outstanding domestic private debt securities to GDP (%) 20.2 17.1 21.7 Outstanding domestic public debt securities to GDP (%) 27.0 29.6 32.6 Outstanding international debt securities to GDP (%) 12.5 10.7 13.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 5 354 609 Bank branches per 100,000 adults (age 15+) 3.6 13.0 16.6 Account at a formal financial institution (%, age 15+) .. .. 38.2 Saved at a financial institution in the past year (%, age 15+) .. .. 13.3 Loan from a financial institution in the past year (%, age 15+) .. .. 8.4 Electronic payments used to make payments (%, age 15+) .. .. 4.7 Debit card (%, age 15+) .. .. 21.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 34.8 Firms with a checking or savings account (%) .. 90.9 91.5 Firms with bank loan/line of credit (%) .. 36.5 20.9 Firms using banks to finance investments (%) 14.0 11.3 20.0 Firms using banks to finance working capital (%) 20.8 24.9 19.5 Small firms with bank loan/line of credit (%) .. 24.6 16.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 43.0 45.3 49.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 43.9 47.2 46.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) 8.9 9.1 8.2 Efficiency—Financial Institutions Bank net interest margin (%) 4.0 4.2 4.2 Bank lending-deposit spread 7.1 6.3 6.1 Bank overhead costs to total assets (%) 3.5 3.2 2.9 Bank return on assets (%, after tax) 1.0 1.6 1.2 Bank return on equity (%, after tax) 11.7 17.2 12.6 Efficiency—Financial Markets Stock market turnover ratio (%) 28.0 22.2 12.9 Stability—Financial Institutions Bank Z-score 12.7 14.1 13.7 Bank nonperforming loans to gross loans (%) 8.1 3.1 4.0 Bank regulatory capital to risk-weighted assets (%) 13.7 14.7 15.8 Stability—Financial Markets Stock price volatility 22.5 17.3 17.7 Other Indicators—Financial Institutions Bank concentration (%) 73.8 71.0 71.2 Boone indicator —0.06 —0.06 —0.04 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 10.6 11.6 10.7 Stock market return (%, year-on-year) —14.5 23.4 0.6 2 2014 The Little Data Book on Financial Development East Asia & Pacific Gross domestic product ($ billions) 9,281.1 Population (millions) 1,977.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 29.8 32.3 41.4 Deposit money banks’ assets to GDP (%) 36.8 40.3 44.9 Nonbank financial institutions’ assets to GDP (%) 14.3 23.9 17.9 Depth—Financial Markets Stock market capitalization to GDP (%) 27.4 45.8 58.7 Stock market total value traded to GDP (%) 15.7 7.7 13.6 Outstanding domestic private debt securities to GDP (%) 7.6 11.1 12.7 Outstanding domestic public debt securities to GDP (%) 27.3 31.9 29.1 Outstanding international debt securities to GDP (%) 10.1 6.2 4.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 265 395 969 Bank branches per 100,000 adults (age 15+) 9.5 9.0 10.7 Account at a formal financial institution (%, age 15+) .. .. 26.8 Saved at a financial institution in the past year (%, age 15+) .. .. 19.4 Loan from a financial institution in the past year (%, age 15+) .. .. 16.2 Electronic payments used to make payments (%, age 15+) .. .. 3.1 Debit card (%, age 15+) .. .. 14.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 24.9 Firms with a checking or savings account (%) .. 99.6 96.0 Firms with bank loan/line of credit (%) .. 72.5 43.0 Firms using banks to finance investments (%) .. 74.4 21.9 Firms using banks to finance working capital (%) .. 71.9 19.3 Small firms with bank loan/line of credit (%) .. 55.1 29.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 76.8 69.6 61.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 57.3 55.8 58.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.7 13.1 14.6 Efficiency—Financial Institutions Bank net interest margin (%) 3.3 5.3 4.3 Bank lending-deposit spread 5.7 5.4 5.5 Bank overhead costs to total assets (%) 2.4 3.3 2.5 Bank return on assets (%, after tax) 1.2 1.7 1.7 Bank return on equity (%, after tax) 11.2 13.0 16.2 Efficiency—Financial Markets Stock market turnover ratio (%) 30.3 22.8 30.0 Stability—Financial Institutions Bank Z-score 9.2 14.5 16.9 Bank nonperforming loans to gross loans (%) 27.7 7.5 2.7 Bank regulatory capital to risk-weighted assets (%) 14.5 14.7 16.1 Stability—Financial Markets Stock price volatility 26.0 20.0 20.7 Other Indicators—Financial Institutions Bank concentration (%) 59.9 68.7 51.8 Boone indicator –0.05 –0.03 –0.03 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.9 2.7 3.4 Stock market return (%, year-on-year) –11.1 30.4 18.9 The Little Data Book on Financial Development 2014 3 Europe & Central Asia data Gross domestic product ($ billions) 1,849.5 Population (millions) data 270.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.5 21.8 37.1 Deposit money banks’ assets to GDP (%) 14.0 28.4 47.2 Nonbank financial institutions’ assets to GDP (%) 1.2 3.5 4.6 Depth—Financial Markets Stock market capitalization to GDP (%) 4.0 25.6 16.1 Stock market total value traded to GDP (%) 0.7 3.1 0.9 Outstanding domestic private debt securities to GDP (%) 0.0 3.1 3.2 Outstanding domestic public debt securities to GDP (%) 31.4 35.0 34.6 Outstanding international debt securities to GDP (%) 7.9 7.8 7.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 816 817 Bank branches per 100,000 adults (age 15+) .. 12.6 17.0 Account at a formal financial institution (%, age 15+) .. .. 42.1 Saved at a financial institution in the past year (%, age 15+) .. .. 4.2 Loan from a financial institution in the past year (%, age 15+) .. .. 9.4 Electronic payments used to make payments (%, age 15+) .. .. 4.5 Debit card (%, age 15+) .. .. 27.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 40.4 Firms with a checking or savings account (%) .. 96.1 92.1 Firms with bank loan/line of credit (%) .. 43.2 42.3 Firms using banks to finance investments (%) 11.0 26.5 34.7 Firms using banks to finance working capital (%) 11.5 40.0 .. Small firms with bank loan/line of credit (%) .. 38.6 34.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 27.1 29.4 29.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 27.4 27.7 29.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 0.0 0.5 Efficiency—Financial Institutions Bank net interest margin (%) 6.5 5.5 4.8 Bank lending-deposit spread 12.4 7.3 7.3 Bank overhead costs to total assets (%) 5.5 5.1 4.0 Bank return on assets (%, after tax) 0.8 2.0 0.6 Bank return on equity (%, after tax) 9.8 16.3 5.4 Efficiency—Financial Markets Stock market turnover ratio (%) 18.1 19.1 3.7 Stability—Financial Institutions Bank Z-score 11.2 11.3 9.9 Bank nonperforming loans to gross loans (%) 14.9 3.1 11.8 Bank regulatory capital to risk-weighted assets (%) 20.7 21.9 18.6 Stability—Financial Markets Stock price volatility 40.2 27.1 20.6 Other Indicators—Financial Institutions Bank concentration (%) 79.6 70.7 64.4 Boone indicator –0.10 –0.09 –0.04 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.2 11.7 6.2 Stock market return (%, year-on-year) –16.8 35.6 –0.6 4 2014 The Little Data Book on Financial Development Latin America & Caribbean Gross domestic product ($ billions) 5,375.8 Population (millions) 574.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 26.5 27.9 30.9 Deposit money banks’ assets to GDP (%) 33.1 36.8 39.3 Nonbank financial institutions’ assets to GDP (%) 3.8 4.6 2.9 Depth—Financial Markets Stock market capitalization to GDP (%) 20.2 30.6 21.3 Stock market total value traded to GDP (%) 0.8 0.6 0.4 Outstanding domestic private debt securities to GDP (%) 5.0 7.4 3.3 Outstanding domestic public debt securities to GDP (%) 14.2 25.7 22.1 Outstanding international debt securities to GDP (%) 10.2 13.6 10.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 351 610 Bank branches per 100,000 adults (age 15+) .. 13.3 17.1 Account at a formal financial institution (%, age 15+) .. .. 27.7 Saved at a financial institution in the past year (%, age 15+) .. .. 11.4 Loan from a financial institution in the past year (%, age 15+) .. .. 9.0 Electronic payments used to make payments (%, age 15+) .. .. 4.2 Debit card (%, age 15+) .. .. 15.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 25.1 Firms with a checking or savings account (%) .. 91.9 96.5 Firms with bank loan/line of credit (%) .. 46.9 49.0 Firms using banks to finance investments (%) .. 17.3 34.5 Firms using banks to finance working capital (%) .. 37.9 44.5 Small firms with bank loan/line of credit (%) .. 39.8 38.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 21.4 35.3 35.8 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 36.9 32.6 34.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) 18.0 6.2 7.0 Efficiency—Financial Institutions Bank net interest margin (%) 6.7 6.6 5.9 Bank lending-deposit spread 9.3 7.8 7.7 Bank overhead costs to total assets (%) 5.2 4.9 4.3 Bank return on assets (%, after tax) 1.0 1.9 1.8 Bank return on equity (%, after tax) 12.3 18.6 16.6 Efficiency—Financial Markets Stock market turnover ratio (%) 2.3 3.7 3.0 Stability—Financial Institutions Bank Z-score 12.9 14.4 14.2 Bank nonperforming loans to gross loans (%) 7.6 3.3 2.1 Bank regulatory capital to risk-weighted assets (%) 14.0 14.9 15.5 Stability—Financial Markets Stock price volatility 26.6 20.2 16.0 Other Indicators—Financial Institutions Bank concentration (%) 53.4 66.0 60.4 Boone indicator –0.07 –0.07 –0.06 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.3 3.7 3.3 Stock market return (%, year-on-year) –13.7 39.9 14.0 The Little Data Book on Financial Development 2014 5 Middle East & North Africa data Gross domestic product ($ billions) 1,539.9 Population (millions) data 333.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 28.7 23.1 67.7 Deposit money banks’ assets to GDP (%) 37.8 32.9 72.4 Nonbank financial institutions’ assets to GDP (%) 7.4 4.3 2.1 Depth—Financial Markets Stock market capitalization to GDP (%) 23.6 58.6 27.5 Stock market total value traded to GDP (%) 3.3 13.4 8.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. 70.2 Outstanding international debt securities to GDP (%) 8.9 1.9 4.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 199 565 Bank branches per 100,000 adults (age 15+) 12.0 10.7 19.1 Account at a formal financial institution (%, age 15+) .. .. 24.4 Saved at a financial institution in the past year (%, age 15+) .. .. 5.3 Loan from a financial institution in the past year (%, age 15+) .. .. 4.4 Electronic payments used to make payments (%, age 15+) .. .. 1.9 Debit card (%, age 15+) .. .. 12.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 23.9 Firms with a checking or savings account (%) .. 91.0 43.2 Firms with bank loan/line of credit (%) .. 21.8 3.8 Firms using banks to finance investments (%) .. 6.4 2.7 Firms using banks to finance working capital (%) .. 16.3 4.6 Small firms with bank loan/line of credit (%) .. 13.5 2.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.2 42.2 54.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 62.8 49.9 29.6 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.8 3.5 2.7 Bank lending-deposit spread 5.0 3.8 5.0 Bank overhead costs to total assets (%) 1.7 1.7 1.8 Bank return on assets (%, after tax) 0.9 1.1 1.1 Bank return on equity (%, after tax) 10.0 12.4 11.3 Efficiency—Financial Markets Stock market turnover ratio (%) 12.8 35.1 10.9 Stability—Financial Institutions Bank Z-score 20.6 21.7 27.7 Bank nonperforming loans to gross loans (%) 16.9 12.2 6.7 Bank regulatory capital to risk-weighted assets (%) 12.6 18.1 16.4 Stability—Financial Markets Stock price volatility 16.9 26.3 11.3 Other Indicators—Financial Institutions Bank concentration (%) 69.7 83.4 73.3 Boone indicator –0.03 –0.01 –0.01 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.8 4.7 4.6 Stock market return (%, year-on-year) –19.4 32.9 –11.0 6 2014 The Little Data Book on Financial Development South Asia Gross domestic product ($ billions) 2,295.7 Population (millions) 1,628.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 26.0 30.6 44.8 Deposit money banks’ assets to GDP (%) 33.8 38.4 53.1 Nonbank financial institutions’ assets to GDP (%) .. 2.5 7.7 Depth—Financial Markets Stock market capitalization to GDP (%) 7.5 23.3 24.7 Stock market total value traded to GDP (%) 1.5 3.7 7.0 Outstanding domestic private debt securities to GDP (%) 0.4 1.7 4.9 Outstanding domestic public debt securities to GDP (%) 29.3 28.5 30.2 Outstanding international debt securities to GDP (%) 0.9 1.5 2.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 447 317 Bank branches per 100,000 adults (age 15+) .. 8.3 9.7 Account at a formal financial institution (%, age 15+) .. .. 30.3 Saved at a financial institution in the past year (%, age 15+) .. .. 10.8 Loan from a financial institution in the past year (%, age 15+) .. .. 9.2 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 4.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 28.8 Firms with a checking or savings account (%) .. 80.0 89.4 Firms with bank loan/line of credit (%) .. 8.6 40.4 Firms using banks to finance investments (%) .. 46.6 43.6 Firms using banks to finance working capital (%) .. 36.4 40.6 Small firms with bank loan/line of credit (%) .. 2.5 35.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 42.0 59.7 78.5 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 60.8 55.6 66.0 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.5 3.7 5.3 Bank lending-deposit spread 7.3 6.4 6.0 Bank overhead costs to total assets (%) 2.1 2.5 2.5 Bank return on assets (%, after tax) 0.5 1.0 1.5 Bank return on equity (%, after tax) 12.0 19.9 16.4 Efficiency—Financial Markets Stock market turnover ratio (%) 66.5 29.3 28.6 Stability—Financial Institutions Bank Z-score 6.4 14.9 13.5 Bank nonperforming loans to gross loans (%) 23.4 5.2 8.2 Bank regulatory capital to risk-weighted assets (%) 8.8 12.5 14.6 Stability—Financial Markets Stock price volatility 23.1 21.8 16.8 Other Indicators—Financial Institutions Bank concentration (%) 61.2 44.1 40.9 Boone indicator –0.07 –0.06 –0.06 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.1 4.2 4.2 Stock market return (%, year-on-year) –15.4 37.2 15.2 The Little Data Book on Financial Development 2014 7 Sub-Saharan Africa data Gross domestic product ($ billions) 1,260.8 Population (millions) data 886.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.1 10.4 18.8 Deposit money banks’ assets to GDP (%) 12.9 17.0 23.3 Nonbank financial institutions’ assets to GDP (%) 5.5 3.1 7.0 Depth—Financial Markets Stock market capitalization to GDP (%) 10.0 15.4 24.1 Stock market total value traded to GDP (%) 0.8 0.4 0.6 Outstanding domestic private debt securities to GDP (%) 9.5 15.9 18.8 Outstanding domestic public debt securities to GDP (%) 29.9 27.2 31.4 Outstanding international debt securities to GDP (%) 12.0 13.4 13.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 1 88 191 Bank branches per 100,000 adults (age 15+) 0.9 2.0 4.1 Account at a formal financial institution (%, age 15+) .. .. 17.5 Saved at a financial institution in the past year (%, age 15+) .. .. 9.9 Loan from a financial institution in the past year (%, age 15+) .. .. 4.9 Electronic payments used to make payments (%, age 15+) .. .. 2.1 Debit card (%, age 15+) .. .. 5.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 16.9 Firms with a checking or savings account (%) .. 86.0 94.1 Firms with bank loan/line of credit (%) .. 23.0 20.9 Firms using banks to finance investments (%) .. 7.9 20.0 Firms using banks to finance working capital (%) .. 16.7 19.5 Small firms with bank loan/line of credit (%) .. 21.1 16.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 61.8 27.2 51.1 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 55.6 58.2 59.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) 12.4 12.0 13.1 Efficiency—Financial Institutions Bank net interest margin (%) 7.4 6.6 6.1 Bank lending-deposit spread 13.1 9.3 9.1 Bank overhead costs to total assets (%) 5.3 6.0 5.2 Bank return on assets (%, after tax) 2.1 2.2 2.3 Bank return on equity (%, after tax) 20.0 21.9 19.8 Efficiency—Financial Markets Stock market turnover ratio (%) 9.9 3.8 3.9 Stability—Financial Institutions Bank Z-score 12.8 11.8 13.2 Bank nonperforming loans to gross loans (%) 15.5 6.1 5.1 Bank regulatory capital to risk-weighted assets (%) 15.9 16.4 17.3 Stability—Financial Markets Stock price volatility 13.0 16.2 10.9 Other Indicators—Financial Institutions Bank concentration (%) 89.9 81.0 78.2 Boone indicator –0.06 –0.08 –0.07 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.3 1.9 1.6 Stock market return (%, year-on-year) 23.7 43.6 6.1 8 2014 The Little Data Book on Financial Development Income group tables For operational and analytical purposes the World Bank’s main criterion for classifying economies is gross national income (GNI) per capita. Each economy in The Little Data Book on Financial Development is classified as low income, middle income, or high income. Low- and middle-income economies are sometimes referred to as developing economies. The use of the term is convenient; it is not intended to imply that all economies in the group are experiencing similar development or that other economies have reached a preferred or final stage of development. Classification by income does not necessarily reflect development status. Note: Classifications are fixed during the World Bank’s fiscal year (ending on June 30), thus countries remain in the categories in which they are classified irrespective of any revisions to their per capita income data. Low-income economies are those with a GNI per capita of $1,035 or less in 2012. Middle-income economies are those with a GNI per capita of more than $1,035 but less than $12,616. Lower-middle-income and upper-middle- income economies are separated at a GNI per capita of $4,085. High-income economies are those with a GNI per capita of $12,616 or more. Euro area includes the member states of the Economic and Monetary Union of the European Union that have adopted the euro as their currency: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Malta, the Netherlands, Portugal, Slovak Republic, Slovenia, and Spain. The Little Data Book on Financial Development 2014 9 Low income Gross domestic product ($ billions) data 468.9 Population (millions) data 827.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 10.1 10.3 16.8 Deposit money banks’ assets to GDP (%) 11.8 14.2 20.5 Nonbank financial institutions’ assets to GDP (%) 4.7 3.1 3.7 Depth—Financial Markets Stock market capitalization to GDP (%) 5.9 8.8 22.9 Stock market total value traded to GDP (%) 0.9 1.1 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 0 65 154 Bank branches per 100,000 adults (age 15+) 0.6 1.5 2.7 Account at a formal financial institution (%, age 15+) .. .. 13.4 Saved at a financial institution in the past year (%, age 15+) .. .. 7.9 Loan from a financial institution in the past year (%, age 15+) .. .. 6.1 Electronic payments used to make payments (%, age 15+) .. .. 0.6 Debit card (%, age 15+) .. .. 2.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 12.9 Firms with a checking or savings account (%) .. 85.8 94.1 Firms with bank loan/line of credit (%) .. 17.2 20.9 Firms using banks to finance investments (%) 6.7 7.7 20.0 Firms using banks to finance working capital (%) 7.7 17.3 19.5 Small firms with bank loan/line of credit (%) .. 15.4 16.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.4 8.2 6.4 Bank lending-deposit spread 13.5 8.7 11.0 Bank overhead costs to total assets (%) 5.2 6.4 5.4 Bank return on assets (%, after tax) 2.0 2.5 2.2 Bank return on equity (%, after tax) 20.7 22.6 21.4 Efficiency—Financial Markets Stock market turnover ratio (%) 18.1 6.9 2.6 Stability—Financial Institutions Bank Z-score 9.4 10.6 9.3 Bank nonperforming loans to gross loans (%) 23.4 8.8 8.0 Bank regulatory capital to risk-weighted assets (%) 13.2 17.9 25.3 Stability—Financial Markets Stock price volatility .. 5.3 7.8 Other Indicators—Financial Institutions Bank concentration (%) 88.7 86.8 80.5 Boone indicator –0.06 –0.07 –0.07 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.8 1.5 1.4 Stock market return (%, year-on-year) .. 1.4 –0.9 10 2014 The Little Data Book on Financial Development Middle income Gross domestic product ($ billions) 21,113.5 Population (millions) 4,843.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 20.4 24.3 33.7 Deposit money banks’ assets to GDP (%) 30.2 32.7 40.4 Nonbank financial institutions’ assets to GDP (%) 6.8 6.0 5.3 Depth—Financial Markets Stock market capitalization to GDP (%) 17.6 29.4 25.3 Stock market total value traded to GDP (%) 1.6 3.0 1.6 Outstanding domestic private debt securities to GDP (%) 6.3 6.8 5.4 Outstanding domestic public debt securities to GDP (%) 26.8 27.2 29.4 Outstanding international debt securities to GDP (%) 9.8 7.2 6.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 138 375 635 Bank branches per 100,000 adults (age 15+) 9.5 10.5 13.9 Account at a formal financial institution (%, age 15+) .. .. 29.5 Saved at a financial institution in the past year (%, age 15+) .. .. 8.6 Loan from a financial institution in the past year (%, age 15+) .. .. 7.9 Electronic payments used to make payments (%, age 15+) .. .. 3.2 Debit card (%, age 15+) .. .. 16.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 28.2 Firms with a checking or savings account (%) .. 94.2 66.3 Firms with bank loan/line of credit (%) .. 40.7 22.1 Firms using banks to finance investments (%) 12.8 12.9 23.2 Firms using banks to finance working capital (%) 14.9 27.3 22.6 Small firms with bank loan/line of credit (%) .. 28.1 18.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.2 45.3 55.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 51.4 46.5 52.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.7 7.6 7.0 Efficiency—Financial Institutions Bank net interest margin (%) 5.7 5.3 4.8 Bank lending-deposit spread 8.4 6.9 6.9 Bank overhead costs to total assets (%) 4.4 4.1 3.4 Bank return on assets (%, after tax) 1.0 1.7 1.3 Bank return on equity (%, after tax) 11.4 16.6 13.3 Efficiency—Financial Markets Stock market turnover ratio (%) 12.1 14.6 5.4 Stability—Financial Institutions Bank Z-score 13.4 14.2 14.3 Bank nonperforming loans to gross loans (%) 13.1 4.0 3.6 Bank regulatory capital to risk-weighted assets (%) 14.8 15.8 16.3 Stability—Financial Markets Stock price volatility 24.4 21.2 17.1 Other Indicators—Financial Institutions Bank concentration (%) 72.8 67.2 64.4 Boone indicator –0.06 –0.07 –0.05 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.8 5.0 4.4 Stock market return (%, year-on-year) –12.5 35.8 3.4 The Little Data Book on Financial Development 2014 11 Lower middle income data Gross domestic product ($ billions) 4,670.7 Population (millions) data 2,470.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 14.8 20.7 29.2 Deposit money banks’ assets to GDP (%) 24.0 25.5 34.6 Nonbank financial institutions’ assets to GDP (%) 7.4 4.5 4.6 Depth—Financial Markets Stock market capitalization to GDP (%) 10.6 19.1 18.9 Stock market total value traded to GDP (%) 0.8 0.6 1.8 Outstanding domestic private debt securities to GDP (%) 0.4 1.7 1.4 Outstanding domestic public debt securities to GDP (%) 27.5 28.5 29.4 Outstanding international debt securities to GDP (%) 11.0 4.6 4.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 265 341 519 Bank branches per 100,000 adults (age 15+) 9.5 6.9 9.1 Account at a formal financial institution (%, age 15+) .. .. 21.4 Saved at a financial institution in the past year (%, age 15+) .. .. 7.8 Loan from a financial institution in the past year (%, age 15+) .. .. 6.8 Electronic payments used to make payments (%, age 15+) .. .. 2.2 Debit card (%, age 15+) .. .. 11.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.7 Firms with a checking or savings account (%) .. 87.8 89.4 Firms with bank loan/line of credit (%) .. 42.1 40.4 Firms using banks to finance investments (%) 8.4 12.9 43.6 Firms using banks to finance working capital (%) 14.9 30.9 40.6 Small firms with bank loan/line of credit (%) .. 38.8 35.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 36.6 45.3 55.7 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 52.4 46.5 57.3 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.7 3.3 4.9 Efficiency—Financial Institutions Bank net interest margin (%) 6.6 5.6 5.4 Bank lending-deposit spread 9.4 7.9 8.6 Bank overhead costs to total assets (%) 4.4 4.0 3.9 Bank return on assets (%, after tax) 0.9 1.7 1.6 Bank return on equity (%, after tax) 10.8 16.6 15.3 Efficiency—Financial Markets Stock market turnover ratio (%) 10.5 11.1 6.9 Stability—Financial Institutions Bank Z-score 13.1 14.4 16.8 Bank nonperforming loans to gross loans (%) 16.9 4.4 4.6 Bank regulatory capital to risk-weighted assets (%) 14.5 15.3 16.3 Stability—Financial Markets Stock price volatility 24.4 21.8 17.8 Other Indicators—Financial Institutions Bank concentration (%) 75.9 64.4 68.3 Boone indicator –0.07 –0.07 –0.06 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.0 4.8 4.0 Stock market return (%, year-on-year) –14.9 35.0 6.0 12 2014 The Little Data Book on Financial Development Upper middle income Gross domestic product ($ billions) 16,440.4 Population (millions) 2,372.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 24.9 27.3 44.6 Deposit money banks’ assets to GDP (%) 35.3 43.7 54.7 Nonbank financial institutions’ assets to GDP (%) 6.5 6.9 8.8 Depth—Financial Markets Stock market capitalization to GDP (%) 20.4 31.4 28.5 Stock market total value traded to GDP (%) 2.0 3.4 1.5 Outstanding domestic private debt securities to GDP (%) 8.2 11.1 12.7 Outstanding domestic public debt securities to GDP (%) 17.8 27.2 28.5 Outstanding international debt securities to GDP (%) 9.4 9.3 8.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 10 500 695 Bank branches per 100,000 adults (age 15+) 7.8 13.2 17.1 Account at a formal financial institution (%, age 15+) .. .. 43.1 Saved at a financial institution in the past year (%, age 15+) .. .. 8.7 Loan from a financial institution in the past year (%, age 15+) .. .. 9.1 Electronic payments used to make payments (%, age 15+) .. .. 6.8 Debit card (%, age 15+) .. .. 28.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 39.9 Firms with a checking or savings account (%) .. 97.0 43.2 Firms with bank loan/line of credit (%) .. 33.3 3.8 Firms using banks to finance investments (%) 14.6 15.3 2.7 Firms using banks to finance working capital (%) 16.1 26.8 4.6 Small firms with bank loan/line of credit (%) .. 23.3 2.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.9 46.1 52.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 51.4 44.1 43.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) 7.1 9.1 10.7 Efficiency—Financial Institutions Bank net interest margin (%) 4.7 4.8 4.4 Bank lending-deposit spread 7.9 6.2 5.8 Bank overhead costs to total assets (%) 4.4 4.1 3.0 Bank return on assets (%, after tax) 1.2 1.8 1.1 Bank return on equity (%, after tax) 12.6 16.4 10.4 Efficiency—Financial Markets Stock market turnover ratio (%) 12.8 16.1 5.4 Stability—Financial Institutions Bank Z-score 13.6 13.6 13.9 Bank nonperforming loans to gross loans (%) 9.4 3.5 3.4 Bank regulatory capital to risk-weighted assets (%) 15.0 16.1 16.1 Stability—Financial Markets Stock price volatility 23.6 20.2 16.2 Other Indicators—Financial Institutions Bank concentration (%) 69.9 74.4 60.3 Boone indicator –0.06 –0.06 –0.04 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.2 5.6 5.5 Stock market return (%, year-on-year) –8.6 36.9 2.4 The Little Data Book on Financial Development 2014 13 Low and middle income data Gross domestic product ($ billions) 21,596.8 Population (millions) data 5,671.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 15.1 19.3 28.4 Deposit money banks’ assets to GDP (%) 24.6 26.0 34.9 Nonbank financial institutions’ assets to GDP (%) 5.5 3.5 4.9 Depth—Financial Markets Stock market capitalization to GDP (%) 12.4 26.3 23.8 Stock market total value traded to GDP (%) 1.4 2.2 1.3 Outstanding domestic private debt securities to GDP (%) 6.3 6.8 5.4 Outstanding domestic public debt securities to GDP (%) 26.8 27.2 29.4 Outstanding international debt securities to GDP (%) 9.8 7.2 6.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 5 296 485 Bank branches per 100,000 adults (age 15+) 3.6 7.3 9.9 Account at a formal financial institution (%, age 15+) .. .. 25.3 Saved at a financial institution in the past year (%, age 15+) .. .. 8.5 Loan from a financial institution in the past year (%, age 15+) .. .. 7.6 Electronic payments used to make payments (%, age 15+) .. .. 2.7 Debit card (%, age 15+) .. .. 12.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 23.2 Firms with a checking or savings account (%) .. 90.9 91.5 Firms with bank loan/line of credit (%) .. 34.5 20.9 Firms using banks to finance investments (%) 11.0 11.3 20.0 Firms using banks to finance working capital (%) 11.5 24.9 19.5 Small firms with bank loan/line of credit (%) .. 23.3 16.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.2 45.3 55.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 51.4 46.5 52.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.7 7.6 7.0 Efficiency—Financial Institutions Bank net interest margin (%) 5.9 5.6 5.0 Bank lending-deposit spread 9.1 7.3 7.3 Bank overhead costs to total assets (%) 4.5 4.3 3.9 Bank return on assets (%, after tax) 1.3 1.8 1.6 Bank return on equity (%, after tax) 12.6 17.6 15.2 Efficiency—Financial Markets Stock market turnover ratio (%) 12.1 13.7 4.9 Stability—Financial Institutions Bank Z-score 12.7 13.4 13.8 Bank nonperforming loans to gross loans (%) 13.3 4.0 4.0 Bank regulatory capital to risk-weighted assets (%) 14.7 16.5 16.8 Stability—Financial Markets Stock price volatility 24.4 21.2 16.8 Other Indicators—Financial Institutions Bank concentration (%) 74.7 73.5 69.1 Boone indicator –0.06 –0.07 –0.05 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.8 4.6 4.2 Stock market return (%, year-on-year) –12.5 35.8 3.4 14 2014 The Little Data Book on Financial Development High income Gross domestic product ($ billions) 48,820.8 Population (millions) 1,294.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 71.4 76.3 92.5 Deposit money banks’ assets to GDP (%) 82.8 95.5 101.5 Nonbank financial institutions’ assets to GDP (%) 11.4 13.4 4.5 Depth—Financial Markets Stock market capitalization to GDP (%) 58.6 84.9 50.9 Stock market total value traded to GDP (%) 27.4 36.6 18.4 Outstanding domestic private debt securities to GDP (%) 28.8 27.3 34.1 Outstanding domestic public debt securities to GDP (%) 27.2 31.0 38.2 Outstanding international debt securities to GDP (%) 24.7 25.5 46.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,022 1,168 Bank branches per 100,000 adults (age 15+) 27.9 27.3 27.7 Account at a formal financial institution (%, age 15+) .. .. 90.1 Saved at a financial institution in the past year (%, age 15+) .. .. 38.6 Loan from a financial institution in the past year (%, age 15+) .. .. 11.6 Electronic payments used to make payments (%, age 15+) .. .. 44.8 Debit card (%, age 15+) .. .. 68.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 88.0 Firms with a checking or savings account (%) .. 91.5 97.9 Firms with bank loan/line of credit (%) .. 57.1 49.3 Firms using banks to finance investments (%) 22.1 18.0 44.8 Firms using banks to finance working capital (%) 24.3 34.8 46.3 Small firms with bank loan/line of credit (%) .. 51.1 48.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 42.3 46.0 38.5 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 43.5 51.7 46.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) 9.0 10.7 8.7 Efficiency—Financial Institutions Bank net interest margin (%) 2.2 2.4 2.3 Bank lending-deposit spread 4.8 3.8 4.8 Bank overhead costs to total assets (%) 1.7 1.7 1.6 Bank return on assets (%, after tax) 0.7 1.2 0.8 Bank return on equity (%, after tax) 9.3 17.1 8.7 Efficiency—Financial Markets Stock market turnover ratio (%) 46.0 59.8 48.3 Stability—Financial Institutions Bank Z-score 12.9 14.8 13.6 Bank nonperforming loans to gross loans (%) 2.9 1.8 4.0 Bank regulatory capital to risk-weighted assets (%) 12.9 12.9 14.5 Stability—Financial Markets Stock price volatility 22.1 14.7 19.5 Other Indicators—Financial Institutions Bank concentration (%) 73.6 69.4 75.9 Boone indicator –0.05 –0.05 –0.03 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 29.3 34.2 29.4 Stock market return (%, year-on-year) –17.0 19.1 –0.2 The Little Data Book on Financial Development 2014 15 Euro area data Gross domestic product ($ billions) 13,090.4 Population (millions) data 332.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 96.2 107.7 121.8 Deposit money banks’ assets to GDP (%) 115.2 126.9 152.8 Nonbank financial institutions’ assets to GDP (%) 46.5 44.2 .. Depth—Financial Markets Stock market capitalization to GDP (%) 61.4 62.4 32.7 Stock market total value traded to GDP (%) 33.6 32.6 12.1 Outstanding domestic private debt securities to GDP (%) 24.6 26.9 37.8 Outstanding domestic public debt securities to GDP (%) 34.9 34.8 46.6 Outstanding international debt securities to GDP (%) 32.5 57.3 90.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 756 1,499 Bank branches per 100,000 adults (age 15+) .. 37.4 40.1 Account at a formal financial institution (%, age 15+) .. .. 95.3 Saved at a financial institution in the past year (%, age 15+) .. .. 42.6 Loan from a financial institution in the past year (%, age 15+) .. .. 11.4 Electronic payments used to make payments (%, age 15+) .. .. 55.3 Debit card (%, age 15+) .. .. 71.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 94.3 Firms with a checking or savings account (%) .. .. 97.4 Firms with bank loan/line of credit (%) .. .. 50.8 Firms using banks to finance investments (%) 13.6 29.3 41.5 Firms using banks to finance working capital (%) 21.0 34.9 .. Small firms with bank loan/line of credit (%) .. .. 43.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 27.1 31.3 11.0 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 42.5 27.9 19.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.7 1.7 1.4 Bank lending-deposit spread 4.4 3.0 4.8 Bank overhead costs to total assets (%) 1.6 1.2 1.3 Bank return on assets (%, after tax) 0.5 0.9 0.0 Bank return on equity (%, after tax) 9.2 13.6 1.1 Efficiency—Financial Markets Stock market turnover ratio (%) 51.5 57.4 44.9 Stability—Financial Institutions Bank Z-score 12.9 12.7 11.1 Bank nonperforming loans to gross loans (%) 2.3 2.7 5.5 Bank regulatory capital to risk-weighted assets (%) 12.7 12.1 13.5 Stability—Financial Markets Stock price volatility 22.3 12.0 22.4 Other Indicators—Financial Institutions Bank concentration (%) 77.7 69.3 74.2 Boone indicator –0.05 –0.05 –0.03 Banking crisis dummy .. .. .. Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 17.6 14.5 14.3 Stock market return (%, year-on-year) –19.4 23.4 –4.3 16 2014 The Little Data Book on Financial Development Country tables Cyprus GDP data refer to the area controlled by the government of Cyprus. Morocco GDP data include Former Spanish Sahara. Sudan GDP data exclude South Sudan after July 2011. Tanzania GDP data refer to mainland Tanzania only. The Little Data Book on Financial Development 2014 17 Afghanistan South Asia Low income Gross domestic product ($ billions) data 18.0 Population (millions) data 29.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 5.0 6.8 Deposit money banks’ assets to GDP (%) .. 5.3 6.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 30 119 Bank branches per 100,000 adults (age 15+) .. 0.8 1.9 Account at a formal financial institution (%, age 15+) .. .. 9.0 Saved at a financial institution in the past year (%, age 15+) .. .. 2.8 Loan from a financial institution in the past year (%, age 15+) .. .. 7.4 Electronic payments used to make payments (%, age 15+) .. .. 0.2 Debit card (%, age 15+) .. .. 4.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 7.5 Firms with a checking or savings account (%) .. 73.1 .. Firms with bank loan/line of credit (%) .. 3.4 .. Firms using banks to finance investments (%) .. 1.4 .. Firms using banks to finance working capital (%) .. 2.5 .. Small firms with bank loan/line of credit (%) .. 2.3 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 8.0 5.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. 7.5 4.7 Bank return on assets (%, after tax) .. –0.5 –1.6 Bank return on equity (%, after tax) .. –2.1 –16.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 15.3 3.6 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 89.9 76.6 Boone indicator .. 0.37 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 18 2014 The Little Data Book on Financial Development Europe & Central Asia Albania Upper middle income Gross domestic product ($ billions) 13.0 Population (millions) 3.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.9 17.9 37.2 Deposit money banks’ assets to GDP (%) 32.1 43.8 61.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 13.1 22.2 Account at a formal financial institution (%, age 15+) .. .. 28.3 Saved at a financial institution in the past year (%, age 15+) .. .. 8.6 Loan from a financial institution in the past year (%, age 15+) .. .. 7.5 Electronic payments used to make payments (%, age 15+) .. .. 3.2 Debit card (%, age 15+) .. .. 21.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 26.1 Firms with a checking or savings account (%) .. 92.4 .. Firms with bank loan/line of credit (%) .. 42.2 .. Firms using banks to finance investments (%) .. 12.4 .. Firms using banks to finance working capital (%) .. 33.3 .. Small firms with bank loan/line of credit (%) .. 37.9 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.6 4.7 4.4 Bank lending-deposit spread 11.9 7.7 6.6 Bank overhead costs to total assets (%) 2.6 2.7 2.4 Bank return on assets (%, after tax) 0.8 1.3 1.0 Bank return on equity (%, after tax) 8.8 18.6 9.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 2.5 2.1 3.3 Bank nonperforming loans to gross loans (%) 4.6 3.1 18.8 Bank regulatory capital to risk-weighted assets (%) 28.5 18.1 15.6 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 91.0 55.7 Boone indicator –0.01 –0.03 0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 19 Algeria Middle East & North Africa Upper middle income Gross domestic product ($ billions) data 198.5 Population (millions) 37.8 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 6.8 11.2 13.9 Deposit money banks’ assets to GDP (%) 37.8 33.1 35.0 Nonbank financial institutions’ assets to GDP (%) 0.2 0.4 0.8 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 324 373 Bank branches per 100,000 adults (age 15+) .. 5.0 5.3 Account at a formal financial institution (%, age 15+) .. .. 33.3 Saved at a financial institution in the past year (%, age 15+) .. .. 4.3 Loan from a financial institution in the past year (%, age 15+) .. .. 1.5 Electronic payments used to make payments (%, age 15+) .. .. 1.8 Debit card (%, age 15+) .. .. 13.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 31.8 Firms with a checking or savings account (%) .. 83.8 .. Firms with bank loan/line of credit (%) .. 31.1 .. Firms using banks to finance investments (%) .. 8.9 .. Firms using banks to finance working capital (%) .. 28.6 .. Small firms with bank loan/line of credit (%) .. 16.4 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.2 3.7 2.2 Bank lending-deposit spread 3.3 6.3 6.3 Bank overhead costs to total assets (%) 1.7 1.2 1.2 Bank return on assets (%, after tax) 0.2 0.8 1.6 Bank return on equity (%, after tax) 3.6 16.1 16.3 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 10.0 10.2 21.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 73.4 84.3 75.5 Boone indicator 0.07 0.01 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 20 2014 The Little Data Book on Financial Development Andorra High income Gross domestic product ($ billions) 3.7 Population (thousands) 77.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.7 1.8 1.4 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 0.8 1.6 1.6 Bank return on assets (%, after tax) 1.7 3.3 1.5 Bank return on equity (%, after tax) 15.6 26.4 14.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 20.0 24.7 16.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 87.7 100.0 100.0 Boone indicator –0.02 –0.04 .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 21 Angola Sub-Saharan Africa Upper middle income Gross domestic product ($ billions) data 104.1 Population (millions) data 20.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 2.0 5.5 19.1 Deposit money banks’ assets to GDP (%) 2.2 7.9 29.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 4.0 10.5 Account at a formal financial institution (%, age 15+) .. .. 39.2 Saved at a financial institution in the past year (%, age 15+) .. .. 15.9 Loan from a financial institution in the past year (%, age 15+) .. .. 7.9 Electronic payments used to make payments (%, age 15+) .. .. 17.0 Debit card (%, age 15+) .. .. 29.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 37.0 Firms with a checking or savings account (%) .. 79.0 86.4 Firms with bank loan/line of credit (%) .. 4.1 9.5 Firms using banks to finance investments (%) .. 2.1 13.1 Firms using banks to finance working capital (%) .. 2.3 13.4 Small firms with bank loan/line of credit (%) .. 2.2 4.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.4 5.7 6.1 Bank lending-deposit spread 48.1 15.0 12.4 Bank overhead costs to total assets (%) 10.6 5.4 3.7 Bank return on assets (%, after tax) 3.0 2.7 2.3 Bank return on equity (%, after tax) 24.4 27.9 20.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 13.9 11.1 12.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 99.3 78.5 71.5 Boone indicator –0.05 –0.10 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 22 2014 The Little Data Book on Financial Development Antigua and Barbuda High income Gross domestic product ($ billions) 1.1 Population (thousands) 88.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 63.4 59.7 79.6 Deposit money banks’ assets to GDP (%) 80.6 72.8 100.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. 23.4 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 49.2 Firms using banks to finance investments (%) .. .. 49.4 Firms using banks to finance working capital (%) .. .. 46.3 Small firms with bank loan/line of credit (%) .. .. 51.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.7 1.5 .. Bank lending-deposit spread 7.1 7.1 7.5 Bank overhead costs to total assets (%) 4.2 4.5 .. Bank return on assets (%, after tax) 0.8 1.2 .. Bank return on equity (%, after tax) 11.1 17.0 .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.4 16.1 .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 95.5 97.2 .. Boone indicator –0.69 –0.28 .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 23 Argentina Latin America & Caribbean Upper middle income Gross domestic product ($ billions) data 446.0 Population (millions) data 40.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 22.4 10.9 13.5 Deposit money banks’ assets to GDP (%) 33.3 25.5 22.0 Nonbank financial institutions’ assets to GDP (%) 0.7 0.3 0.5 Depth—Financial Markets Stock market capitalization to GDP (%) 67.0 32.2 11.8 Stock market total value traded to GDP (%) 1.9 4.9 0.6 Outstanding domestic private debt securities to GDP (%) 5.0 7.4 2.0 Outstanding domestic public debt securities to GDP (%) 10.7 26.7 10.4 Outstanding international debt securities to GDP (%) 33.0 28.0 11.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 566 733 Bank branches per 100,000 adults (age 15+) .. 13.3 13.5 Account at a formal financial institution (%, age 15+) .. .. 33.1 Saved at a financial institution in the past year (%, age 15+) .. .. 3.8 Loan from a financial institution in the past year (%, age 15+) .. .. 6.6 Electronic payments used to make payments (%, age 15+) .. .. 5.7 Debit card (%, age 15+) .. .. 29.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 32.4 Firms with a checking or savings account (%) .. 98.2 96.2 Firms with bank loan/line of credit (%) .. 39.4 49.3 Firms using banks to finance investments (%) .. 6.9 30.3 Firms using banks to finance working capital (%) .. 28.7 33.3 Small firms with bank loan/line of credit (%) .. 23.0 38.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 15.7 23.2 28.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 24.1 22.2 29.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.2 3.3 7.1 Bank lending-deposit spread 11.5 2.2 3.4 Bank overhead costs to total assets (%) 9.5 4.7 7.2 Bank return on assets (%, after tax) 0.0 1.5 2.8 Bank return on equity (%, after tax) –0.3 13.6 25.5 Efficiency—Financial Markets Stock market turnover ratio (%) 2.3 6.6 4.9 Stability—Financial Institutions Bank Z-score 4.4 4.9 5.1 Bank nonperforming loans to gross loans (%) 13.1 3.4 1.2 Bank regulatory capital to risk-weighted assets (%) 10.6 16.9 15.5 Stability—Financial Markets Stock price volatility 33.4 24.7 25.7 Other Indicators—Financial Institutions Bank concentration (%) 35.2 43.8 34.0 Boone indicator –0.03 –0.06 –0.10 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.0 2.6 2.4 Stock market return (%, year-on-year) –27.2 16.8 22.2 24 2014 The Little Data Book on Financial Development Europe & Central Asia Armenia Lower middle income Gross domestic product ($ billions) 10.1 Population (millions) 3.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 8.2 7.8 29.9 Deposit money banks’ assets to GDP (%) 10.2 9.5 34.1 Nonbank financial institutions’ assets to GDP (%) .. .. 0.7 Depth—Financial Markets Stock market capitalization to GDP (%) 0.3 0.8 1.4 Stock market total value traded to GDP (%) 0.0 0.0 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 365 711 Bank branches per 100,000 adults (age 15+) .. 13.3 18.8 Account at a formal financial institution (%, age 15+) .. .. 17.5 Saved at a financial institution in the past year (%, age 15+) .. .. 0.8 Loan from a financial institution in the past year (%, age 15+) .. .. 18.9 Electronic payments used to make payments (%, age 15+) .. .. 2.2 Debit card (%, age 15+) .. .. 5.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 16.2 Firms with a checking or savings account (%) .. .. 89.5 Firms with bank loan/line of credit (%) .. .. 44.3 Firms using banks to finance investments (%) 5.6 44.6 31.9 Firms using banks to finance working capital (%) 10.9 46.3 .. Small firms with bank loan/line of credit (%) .. .. 34.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.1 8.9 6.9 Bank lending-deposit spread 11.8 10.7 8.5 Bank overhead costs to total assets (%) 4.4 6.0 4.0 Bank return on assets (%, after tax) 0.5 4.0 1.8 Bank return on equity (%, after tax) 4.7 19.1 9.6 Efficiency—Financial Markets Stock market turnover ratio (%) 12.1 9.0 0.4 Stability—Financial Institutions Bank Z-score 10.1 21.4 16.6 Bank nonperforming loans to gross loans (%) 9.9 2.4 4.9 Bank regulatory capital to risk-weighted assets (%) 13.6 34.9 18.6 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 81.3 63.0 40.1 Boone indicator –0.22 –0.21 –0.21 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 34.3 11.7 4.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 25 Aruba High income Gross domestic product ($ billions) 2.6 data Population (thousands) data 101.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 44.9 54.3 59.4 Deposit money banks’ assets to GDP (%) 46.4 57.1 63.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. 19.5 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.4 4.0 8.5 Bank lending-deposit spread 6.3 7.4 8.0 Bank overhead costs to total assets (%) 3.3 3.0 3.1 Bank return on assets (%, after tax) 1.6 0.9 3.2 Bank return on equity (%, after tax) 31.6 9.0 26.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.9 15.8 20.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 26 2014 The Little Data Book on Financial Development Australia High income Gross domestic product ($ billions) 1,384.1 Population (millions) 22.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 83.0 104.7 121.3 Deposit money banks’ assets to GDP (%) 86.3 105.2 123.6 Nonbank financial institutions’ assets to GDP (%) .. 24.1 16.3 Depth—Financial Markets Stock market capitalization to GDP (%) 91.8 128.1 103.4 Stock market total value traded to GDP (%) 57.4 97.3 95.5 Outstanding domestic private debt securities to GDP (%) 35.6 52.2 49.3 Outstanding domestic public debt securities to GDP (%) 16.2 12.5 29.8 Outstanding international debt securities to GDP (%) 26.4 45.8 47.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 31.2 29.6 Account at a formal financial institution (%, age 15+) .. .. 99.1 Saved at a financial institution in the past year (%, age 15+) .. .. 61.9 Loan from a financial institution in the past year (%, age 15+) .. .. 17.0 Electronic payments used to make payments (%, age 15+) .. .. 79.2 Debit card (%, age 15+) .. .. 79.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 98.8 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 49.6 65.3 58.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 53.7 65.3 56.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) 9.1 8.1 3.6 Efficiency—Financial Institutions Bank net interest margin (%) 1.8 4.3 2.1 Bank lending-deposit spread 4.8 5.4 3.4 Bank overhead costs to total assets (%) 2.8 2.6 1.1 Bank return on assets (%, after tax) –0.5 2.3 0.9 Bank return on equity (%, after tax) –8.8 34.8 14.1 Efficiency—Financial Markets Stock market turnover ratio (%) 69.1 86.6 87.1 Stability—Financial Institutions Bank Z-score 7.3 13.7 11.3 Bank nonperforming loans to gross loans (%) 0.6 0.6 2.0 Bank regulatory capital to risk-weighted assets (%) 10.4 10.3 11.6 Stability—Financial Markets Stock price volatility 12.7 10.8 15.8 Other Indicators—Financial Institutions Bank concentration (%) 77.6 62.1 68.8 Boone indicator 0.05 0.15 0.28 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 68.7 84.6 86.1 Stock market return (%, year-on-year) 1.9 18.6 –2.5 The Little Data Book on Financial Development 2014 27 Austria High income Gross domestic product ($ billions) data 417.7 Population (millions) 8.4 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 102.5 112.4 117.8 Deposit money banks’ assets to GDP (%) 124.1 126.9 133.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 14.0 48.7 18.5 Stock market total value traded to GDP (%) 4.3 19.4 10.8 Outstanding domestic private debt securities to GDP (%) 33.0 41.6 48.0 Outstanding domestic public debt securities to GDP (%) 38.4 29.5 33.8 Outstanding international debt securities to GDP (%) 43.8 74.3 84.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 13.0 15.2 Account at a formal financial institution (%, age 15+) .. .. 97.1 Saved at a financial institution in the past year (%, age 15+) .. .. 51.6 Loan from a financial institution in the past year (%, age 15+) .. .. 8.3 Electronic payments used to make payments (%, age 15+) .. .. 55.3 Debit card (%, age 15+) .. .. 86.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 96.1 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 27.1 23.6 21.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 43.3 30.7 38.3 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.7 1.7 1.5 Bank lending-deposit spread 3.4 .. .. Bank overhead costs to total assets (%) 1.5 1.7 1.4 Bank return on assets (%, after tax) 0.3 0.6 0.3 Bank return on equity (%, after tax) 6.7 9.5 5.7 Efficiency—Financial Markets Stock market turnover ratio (%) 27.0 50.3 50.2 Stability—Financial Institutions Bank Z-score 17.3 26.1 22.6 Bank nonperforming loans to gross loans (%) 3.0 2.7 2.7 Bank regulatory capital to risk-weighted assets (%) 13.7 13.2 15.8 Stability—Financial Markets Stock price volatility 14.7 16.8 24.4 Other Indicators—Financial Institutions Bank concentration (%) 71.1 66.3 60.5 Boone indicator –0.07 –0.06 –0.05 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 14.2 11.6 8.7 Stock market return (%, year-on-year) 2.6 31.2 –3.4 28 2014 The Little Data Book on Financial Development Europe & Central Asia Azerbaijan Upper middle income Gross domestic product ($ billions) 63.4 Population (millions) 9.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 5.2 8.9 16.5 Deposit money banks’ assets to GDP (%) 8.8 10.4 19.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 140 398 Bank branches per 100,000 adults (age 15+) .. 7.1 9.9 Account at a formal financial institution (%, age 15+) .. .. 14.9 Saved at a financial institution in the past year (%, age 15+) .. .. 1.6 Loan from a financial institution in the past year (%, age 15+) .. .. 17.7 Electronic payments used to make payments (%, age 15+) .. .. 0.7 Debit card (%, age 15+) .. .. 10.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 14.8 Firms with a checking or savings account (%) .. .. 75.9 Firms with bank loan/line of credit (%) .. .. 19.9 Firms using banks to finance investments (%) 3.9 0.4 19.0 Firms using banks to finance working capital (%) 4.1 0.4 .. Small firms with bank loan/line of credit (%) .. .. 18.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.8 8.2 5.0 Bank lending-deposit spread 11.2 7.3 8.1 Bank overhead costs to total assets (%) 6.9 5.6 4.3 Bank return on assets (%, after tax) –1.2 2.8 0.3 Bank return on equity (%, after tax) 4.8 16.7 2.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.7 11.2 8.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 61.9 40.8 64.4 Boone indicator –0.06 –0.12 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 29 Bahamas, The High income Gross domestic product ($ billions) 7.9 data Population (thousands) data 366.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 56.1 65.5 85.2 Deposit money banks’ assets to GDP (%) 63.4 73.1 101.5 Nonbank financial institutions’ assets to GDP (%) 1.8 1.9 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 8.3 16.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 41.4 38.0 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 97.6 Firms with bank loan/line of credit (%) .. .. 34.2 Firms using banks to finance investments (%) .. .. 14.6 Firms using banks to finance working capital (%) .. .. 28.5 Small firms with bank loan/line of credit (%) .. .. 28.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.9 2.9 3.5 Bank lending-deposit spread 1.8 2.1 2.4 Bank overhead costs to total assets (%) 1.0 1.2 1.8 Bank return on assets (%, after tax) 2.4 2.8 1.7 Bank return on equity (%, after tax) 15.5 15.3 8.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 19.4 25.9 23.4 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 64.5 66.3 79.9 Boone indicator –0.03 –0.03 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 30 2014 The Little Data Book on Financial Development Bahrain High income Gross domestic product ($ billions) 22.9 Population (millions) 1.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 44.8 48.6 77.3 Deposit money banks’ assets to GDP (%) 55.6 58.1 94.5 Nonbank financial institutions’ assets to GDP (%) 10.2 20.2 47.1 Depth—Financial Markets Stock market capitalization to GDP (%) 86.5 122.4 81.7 Stock market total value traded to GDP (%) 4.3 6.8 2.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 30.2 33.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 64.5 Saved at a financial institution in the past year (%, age 15+) .. .. 16.3 Loan from a financial institution in the past year (%, age 15+) .. .. 21.9 Electronic payments used to make payments (%, age 15+) .. .. 6.0 Debit card (%, age 15+) .. .. 62.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 63.8 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.8 1.9 2.1 Bank lending-deposit spread 8.0 3.6 5.8 Bank overhead costs to total assets (%) 1.1 0.9 1.1 Bank return on assets (%, after tax) 1.4 1.2 1.2 Bank return on equity (%, after tax) 12.3 9.8 9.9 Efficiency—Financial Markets Stock market turnover ratio (%) 3.6 7.4 1.5 Stability—Financial Institutions Bank Z-score 17.8 17.7 17.6 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. 11.4 9.5 Other Indicators—Financial Institutions Bank concentration (%) 78.6 81.9 89.1 Boone indicator –0.06 –0.07 –0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 60.1 51.5 34.0 Stock market return (%, year-on-year) .. 1.8 –10.2 The Little Data Book on Financial Development 2014 31 Bangladesh South Asia Low income Gross domestic product ($ billions) data 111.9 Population (millions) data 152.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 24.9 33.1 44.6 Deposit money banks’ assets to GDP (%) 36.7 50.6 62.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 2.4 5.2 17.3 Stock market total value traded to GDP (%) 1.5 1.5 14.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 263 378 Bank branches per 100,000 adults (age 15+) .. 7.0 7.8 Account at a formal financial institution (%, age 15+) .. .. 39.6 Saved at a financial institution in the past year (%, age 15+) .. .. 16.6 Loan from a financial institution in the past year (%, age 15+) .. .. 23.3 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 2.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 36.6 Firms with a checking or savings account (%) .. 95.3 .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 24.7 .. Firms using banks to finance working capital (%) .. 43.1 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.9 2.1 4.3 Bank lending-deposit spread 7.3 6.2 3.2 Bank overhead costs to total assets (%) 1.8 3.5 2.4 Bank return on assets (%, after tax) 0.2 –2.2 1.6 Bank return on equity (%, after tax) 4.5 19.9 17.7 Efficiency—Financial Markets Stock market turnover ratio (%) 66.5 29.3 93.9 Stability—Financial Institutions Bank Z-score 2.4 –1.5 8.7 Bank nonperforming loans to gross loans (%) 31.5 17.5 .. Bank regulatory capital to risk-weighted assets (%) 6.7 6.9 .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 61.2 45.7 31.9 Boone indicator –0.06 –0.07 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.7 1.9 1.4 Stock market return (%, year-on-year) .. .. .. 32 2014 The Little Data Book on Financial Development Barbados High income Gross domestic product ($ billions) 3.7 Population (thousands) 281.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 51.8 68.0 81.2 Deposit money banks’ assets to GDP (%) 69.9 87.7 102.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 68.7 165.6 122.9 Stock market total value traded to GDP (%) 0.3 17.4 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.8 21.5 38.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 19.2 19.9 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 97.4 Firms with bank loan/line of credit (%) .. .. 58.2 Firms using banks to finance investments (%) .. .. 45.5 Firms using banks to finance working capital (%) .. .. 38.7 Small firms with bank loan/line of credit (%) .. .. 58.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.8 5.2 4.6 Bank lending-deposit spread 5.5 5.7 6.0 Bank overhead costs to total assets (%) 5.8 6.7 3.8 Bank return on assets (%, after tax) 0.9 3.3 0.3 Bank return on equity (%, after tax) 7.7 50.8 2.4 Efficiency—Financial Markets Stock market turnover ratio (%) 0.6 19.6 0.4 Stability—Financial Institutions Bank Z-score 14.2 11.6 12.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Boone indicator –0.04 –0.02 0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 74.5 72.7 78.1 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 33 Belarus Europe & Central Asia Upper middle income Gross domestic product ($ billions) data 64.3 Population (millions) 9.5 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 6.3 16.0 33.2 Deposit money banks’ assets to GDP (%) 12.9 24.6 47.2 Nonbank financial institutions’ assets to GDP (%) .. 0.1 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 2.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 5.5 2.1 Account at a formal financial institution (%, age 15+) .. .. 58.6 Saved at a financial institution in the past year (%, age 15+) .. .. 6.8 Loan from a financial institution in the past year (%, age 15+) .. .. 16.1 Electronic payments used to make payments (%, age 15+) .. .. 10.4 Debit card (%, age 15+) .. .. 50.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 58.4 Firms with a checking or savings account (%) .. 92.3 .. Firms with bank loan/line of credit (%) .. 49.5 .. Firms using banks to finance investments (%) 11.0 18.9 .. Firms using banks to finance working capital (%) 10.3 21.5 .. Small firms with bank loan/line of credit (%) .. 33.2 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.8 6.2 4.4 Bank lending-deposit spread 12.8 1.2 0.3 Bank overhead costs to total assets (%) 7.7 6.6 12.7 Bank return on assets (%, after tax) 0.8 2.1 0.4 Bank return on equity (%, after tax) 3.1 12.0 2.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 22.9 21.4 12.3 Bank nonperforming loans to gross loans (%) 14.9 2.8 4.2 Bank regulatory capital to risk-weighted assets (%) 20.7 24.4 24.7 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 93.9 73.5 78.7 Boone indicator 0.76 0.16 0.62 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 34 2014 The Little Data Book on Financial Development Belgium High income Gross domestic product ($ billions) 513.9 Population (millions) 11.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 76.2 76.3 92.3 Deposit money banks’ assets to GDP (%) 120.9 103.8 114.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 74.3 86.0 50.5 Stock market total value traded to GDP (%) 16.9 36.6 22.1 Outstanding domestic private debt securities to GDP (%) 38.7 23.5 54.2 Outstanding domestic public debt securities to GDP (%) 87.9 60.9 59.1 Outstanding international debt securities to GDP (%) 49.9 71.2 115.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 53.4 44.0 Account at a formal financial institution (%, age 15+) .. .. 96.3 Saved at a financial institution in the past year (%, age 15+) .. .. 42.6 Loan from a financial institution in the past year (%, age 15+) .. .. 10.5 Electronic payments used to make payments (%, age 15+) .. .. 71.1 Debit card (%, age 15+) .. .. 85.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 95.0 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.3 1.1 1.4 Bank lending-deposit spread 5.1 .. .. Bank overhead costs to total assets (%) 1.1 0.8 0.9 Bank return on assets (%, after tax) 1.1 0.8 0.1 Bank return on equity (%, after tax) 29.4 25.6 2.7 Efficiency—Financial Markets Stock market turnover ratio (%) 23.8 48.2 41.3 Stability—Financial Institutions Bank Z-score 5.9 5.4 6.4 Bank nonperforming loans to gross loans (%) 2.9 1.7 2.8 Bank regulatory capital to risk-weighted assets (%) 12.9 11.9 19.1 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 80.0 80.9 85.5 Boone indicator –0.10 –0.10 –0.05 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 15.2 14.5 14.3 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 35 Belize Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 1.4 data Population (thousands) data 316.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 41.7 52.6 60.7 Deposit money banks’ assets to GDP (%) 47.4 56.2 66.7 Nonbank financial institutions’ assets to GDP (%) 13.4 12.9 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 17.7 18.8 7.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 807 658 Bank branches per 100,000 adults (age 15+) .. 22.5 23.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 43.9 Firms using banks to finance investments (%) .. .. 36.7 Firms using banks to finance working capital (%) .. .. 57.0 Small firms with bank loan/line of credit (%) .. .. 43.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.6 6.7 8.5 Bank lending-deposit spread 9.1 6.1 6.9 Bank overhead costs to total assets (%) 4.2 4.2 4.3 Bank return on assets (%, after tax) 5.2 3.2 3.5 Bank return on equity (%, after tax) 46.7 19.3 16.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 13.6 17.0 21.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 96.5 97.1 Boone indicator –0.05 –0.03 –0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 36 2014 The Little Data Book on Financial Development Sub-Saharan Africa BeninLow income Gross domestic product ($ billions) 7.3 Population (millions) 9.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 10.4 16.2 23.8 Deposit money banks’ assets to GDP (%) 11.8 17.3 29.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 10.5 Saved at a financial institution in the past year (%, age 15+) .. .. 7.0 Loan from a financial institution in the past year (%, age 15+) .. .. 4.2 Electronic payments used to make payments (%, age 15+) .. .. 0.6 Debit card (%, age 15+) .. .. 0.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 10.1 Firms with a checking or savings account (%) .. .. 97.4 Firms with bank loan/line of credit (%) .. .. 45.6 Firms using banks to finance investments (%) .. .. 3.8 Firms using banks to finance working capital (%) .. .. 39.4 Small firms with bank loan/line of credit (%) .. .. 42.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.1 4.7 4.2 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.2 5.2 3.6 Bank return on assets (%, after tax) 2.3 –0.1 1.3 Bank return on equity (%, after tax) 30.7 –0.7 15.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.5 17.5 17.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 81.1 88.4 100.0 Boone indicator 0.02 0.07 0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 37 Bermuda High income Gross domestic product ($ billions) 5.6 data Population (thousands) data 64.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.4 2.5 2.3 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 2.6 3.0 2.4 Bank return on assets (%, after tax) 0.4 2.0 0.9 Bank return on equity (%, after tax) 8.7 22.8 7.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 8.6 15.8 15.7 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 97.9 Boone indicator 0.00 –0.06 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 352.0 248.0 201.4 Stock market return (%, year-on-year) .. .. .. 38 2014 The Little Data Book on Financial Development South Asia Bhutan Lower middle income Gross domestic product ($ billions) 1.8 Population (thousands) 729.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 1.5 19.0 45.0 Deposit money banks’ assets to GDP (%) 1.8 22.6 46.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 13.0 16.4 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 92.6 Firms with bank loan/line of credit (%) .. .. 58.6 Firms using banks to finance investments (%) .. .. 64.2 Firms using banks to finance working capital (%) .. .. 59.5 Small firms with bank loan/line of credit (%) .. .. 54.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.4 3.7 5.9 Bank lending-deposit spread 8.3 9.5 9.5 Bank overhead costs to total assets (%) 1.1 1.2 1.2 Bank return on assets (%, after tax) 1.9 1.6 2.1 Bank return on equity (%, after tax) 27.5 19.9 23.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 33.5 33.8 49.5 Bank nonperforming loans to gross loans (%) .. .. 8.2 Bank regulatory capital to risk-weighted assets (%) .. .. 14.6 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. 100.0 Boone indicator –0.09 –0.06 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 39 Bolivia Latin America & Caribbean Lower middle income Gross domestic product ($ billions) data 23.9 Population (millions) data 10.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 55.2 34.1 33.7 Deposit money banks’ assets to GDP (%) 58.2 37.1 34.7 Nonbank financial institutions’ assets to GDP (%) .. 23.1 21.1 Depth—Financial Markets Stock market capitalization to GDP (%) 19.6 19.3 15.8 Stock market total value traded to GDP (%) 0.4 0.0 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 160 532 Bank branches per 100,000 adults (age 15+) .. 5.9 9.7 Account at a formal financial institution (%, age 15+) .. .. 28.0 Saved at a financial institution in the past year (%, age 15+) .. .. 17.1 Loan from a financial institution in the past year (%, age 15+) .. .. 16.6 Electronic payments used to make payments (%, age 15+) .. .. 0.7 Debit card (%, age 15+) .. .. 12.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 25.7 Firms with a checking or savings account (%) .. 91.3 95.6 Firms with bank loan/line of credit (%) .. 50.1 49.1 Firms using banks to finance investments (%) .. 22.2 27.8 Firms using banks to finance working capital (%) .. 39.4 40.5 Small firms with bank loan/line of credit (%) .. 38.8 33.3 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.7 4.2 5.1 Bank lending-deposit spread 10.2 7.9 9.5 Bank overhead costs to total assets (%) 5.5 4.9 4.4 Bank return on assets (%, after tax) –0.7 1.2 1.6 Bank return on equity (%, after tax) –6.4 12.1 19.3 Efficiency—Financial Markets Stock market turnover ratio (%) 0.1 0.0 0.4 Stability—Financial Institutions Bank Z-score 9.4 9.9 9.2 Bank nonperforming loans to gross loans (%) 16.2 8.7 1.7 Bank regulatory capital to risk-weighted assets (%) 14.3 13.3 12.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 66.2 84.9 52.9 Boone indicator –0.04 –0.12 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.3 3.7 3.9 Stock market return (%, year-on-year) .. .. .. 40 2014 The Little Data Book on Financial Development Bosnia and Herzegovina Europe & Central Asia Upper middle income Gross domestic product ($ billions) 18.2 Population (millions) 3.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 42.4 55.4 Deposit money banks’ assets to GDP (%) .. 45.4 61.1 Nonbank financial institutions’ assets to GDP (%) .. 26.3 18.8 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 27.9 31.3 Account at a formal financial institution (%, age 15+) .. .. 56.2 Saved at a financial institution in the past year (%, age 15+) .. .. 6.1 Loan from a financial institution in the past year (%, age 15+) .. .. 13.0 Electronic payments used to make payments (%, age 15+) .. .. 6.2 Debit card (%, age 15+) .. .. 34.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 55.1 Firms with a checking or savings account (%) .. .. 99.8 Firms with bank loan/line of credit (%) .. .. 65.0 Firms using banks to finance investments (%) 24.7 38.1 59.7 Firms using banks to finance working capital (%) 20.6 45.4 .. Small firms with bank loan/line of credit (%) .. .. 54.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.0 4.7 4.5 Bank lending-deposit spread 8.2 4.3 4.6 Bank overhead costs to total assets (%) 7.3 4.1 3.2 Bank return on assets (%, after tax) –1.9 1.0 1.0 Bank return on equity (%, after tax) 3.4 10.3 7.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 8.9 12.8 16.9 Bank nonperforming loans to gross loans (%) 17.9 4.0 11.8 Bank regulatory capital to risk-weighted assets (%) 25.1 17.7 17.2 Stability—Financial Markets Stock price volatility .. 18.1 10.7 Other Indicators—Financial Institutions Bank concentration (%) 56.9 53.9 51.7 Boone indicator –0.04 –0.05 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. 44.1 12.6 The Little Data Book on Financial Development 2014 41 Botswana Sub-Saharan Africa Upper middle income Gross domestic product ($ billions) data 16.0 Population (millions) 2.0 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 13.7 18.9 24.0 Deposit money banks’ assets to GDP (%) 15.0 19.7 25.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 17.6 29.0 25.3 Stock market total value traded to GDP (%) 0.9 0.5 0.9 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 332 487 Bank branches per 100,000 adults (age 15+) .. 6.6 8.6 Account at a formal financial institution (%, age 15+) .. .. 30.3 Saved at a financial institution in the past year (%, age 15+) .. .. 16.5 Loan from a financial institution in the past year (%, age 15+) .. .. 5.6 Electronic payments used to make payments (%, age 15+) .. .. 6.8 Debit card (%, age 15+) .. .. 15.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 29.6 Firms with a checking or savings account (%) .. 96.5 99.0 Firms with bank loan/line of credit (%) .. 27.2 50.0 Firms using banks to finance investments (%) .. 11.3 32.8 Firms using banks to finance working capital (%) .. 15.9 32.1 Small firms with bank loan/line of credit (%) .. 20.8 40.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.1 5.5 5.8 Bank lending-deposit spread 5.7 7.6 5.9 Bank overhead costs to total assets (%) 3.9 3.3 3.9 Bank return on assets (%, after tax) 3.6 3.7 3.2 Bank return on equity (%, after tax) 47.9 64.8 39.9 Efficiency—Financial Markets Stock market turnover ratio (%) 6.1 2.5 3.6 Stability—Financial Institutions Bank Z-score 14.5 12.4 16.4 Bank nonperforming loans to gross loans (%) 1.7 .. .. Bank regulatory capital to risk-weighted assets (%) 27.1 .. .. Stability—Financial Markets Stock price volatility .. 20.8 7.3 Other Indicators—Financial Institutions Bank concentration (%) 92.8 81.0 70.1 Boone indicator –0.12 –0.13 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 9.0 9.5 11.6 Stock market return (%, year-on-year) 36.2 45.1 –4.6 42 2014 The Little Data Book on Financial Development Latin America & Caribbean Brazil Upper middle income Gross domestic product ($ billions) 2,476.7 Population (millions) 196.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 29.0 31.1 55.6 Deposit money banks’ assets to GDP (%) 62.4 70.7 91.9 Nonbank financial institutions’ assets to GDP (%) 2.0 9.3 18.3 Depth—Financial Markets Stock market capitalization to GDP (%) 32.8 57.1 58.3 Stock market total value traded to GDP (%) 13.1 19.6 38.8 Outstanding domestic private debt securities to GDP (%) 8.2 15.2 21.7 Outstanding domestic public debt securities to GDP (%) 42.7 45.1 39.8 Outstanding international debt securities to GDP (%) 13.6 10.8 8.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 434 635 Bank branches per 100,000 adults (age 15+) .. 40.9 46.2 Account at a formal financial institution (%, age 15+) .. .. 55.9 Saved at a financial institution in the past year (%, age 15+) .. .. 10.3 Loan from a financial institution in the past year (%, age 15+) .. .. 6.3 Electronic payments used to make payments (%, age 15+) .. .. 16.6 Debit card (%, age 15+) .. .. 41.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 53.4 Firms with a checking or savings account (%) .. .. 99.4 Firms with bank loan/line of credit (%) .. .. 65.3 Firms using banks to finance investments (%) .. .. 48.4 Firms using banks to finance working capital (%) .. .. 60.0 Small firms with bank loan/line of credit (%) .. .. 42.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.9 60.8 52.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 51.4 47.8 46.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) 3.7 3.3 5.8 Efficiency—Financial Institutions Bank net interest margin (%) 6.1 7.8 5.0 Bank lending-deposit spread 39.8 36.9 32.9 Bank overhead costs to total assets (%) 5.6 5.8 3.4 Bank return on assets (%, after tax) 1.0 2.2 1.2 Bank return on equity (%, after tax) 9.4 21.7 13.3 Efficiency—Financial Markets Stock market turnover ratio (%) 35.9 41.0 66.5 Stability—Financial Institutions Bank Z-score 22.4 23.9 19.6 Bank nonperforming loans to gross loans (%) 5.6 3.5 3.5 Bank regulatory capital to risk-weighted assets (%) 14.8 19.0 17.3 Stability—Financial Markets Stock price volatility 32.5 24.9 21.4 Other Indicators—Financial Institutions Bank concentration (%) 39.0 52.6 62.6 Boone indicator –0.19 –0.17 –0.15 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.4 2.1 1.9 Stock market return (%, year-on-year) –13.7 38.1 –9.0 The Little Data Book on Financial Development 2014 43 Brunei Darussalam High income Gross domestic product ($ billions) data 16.4 Population (thousands) data 406.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 72.0 34.9 32.6 Deposit money banks’ assets to GDP (%) 73.4 35.9 34.7 Nonbank financial institutions’ assets to GDP (%) .. 0.4 0.6 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,321 1,458 Bank branches per 100,000 adults (age 15+) .. 23.2 23.1 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.5 5.3 5.5 Bank lending-deposit spread .. 4.5 5.1 Bank overhead costs to total assets (%) 1.4 2.1 1.9 Bank return on assets (%, after tax) –0.5 1.1 1.3 Bank return on equity (%, after tax) –8.4 19.0 16.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 5.0 6.3 8.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 44 2014 The Little Data Book on Financial Development Europe & Central Asia Bulgaria Upper middle income Gross domestic product ($ billions) 53.5 Population (millions) 7.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 12.8 40.4 .. Deposit money banks’ assets to GDP (%) 16.8 45.9 5.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 4.0 23.1 14.9 Stock market total value traded to GDP (%) 0.5 4.4 0.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 37.5 7.8 4.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 84.2 58.6 Account at a formal financial institution (%, age 15+) .. .. 52.8 Saved at a financial institution in the past year (%, age 15+) .. .. 4.8 Loan from a financial institution in the past year (%, age 15+) .. .. 7.8 Electronic payments used to make payments (%, age 15+) .. .. 4.6 Debit card (%, age 15+) .. .. 45.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 48.2 Firms with a checking or savings account (%) .. 99.8 96.8 Firms with bank loan/line of credit (%) .. 44.1 40.2 Firms using banks to finance investments (%) 19.8 40.5 34.7 Firms using banks to finance working capital (%) 22.8 46.6 .. Small firms with bank loan/line of credit (%) .. 39.2 33.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.7 5.6 4.1 Bank lending-deposit spread 8.2 5.7 7.3 Bank overhead costs to total assets (%) 4.4 3.4 2.5 Bank return on assets (%, after tax) 1.9 1.9 0.8 Bank return on equity (%, after tax) 10.8 18.6 5.8 Efficiency—Financial Markets Stock market turnover ratio (%) 12.7 19.6 4.0 Stability—Financial Institutions Bank Z-score 20.3 14.4 16.8 Bank nonperforming loans to gross loans (%) 3.4 2.2 14.9 Bank regulatory capital to risk-weighted assets (%) 31.1 14.5 17.5 Stability—Financial Markets Stock price volatility 48.0 15.3 16.2 Other Indicators—Financial Institutions Bank concentration (%) 71.3 42.6 46.9 Boone indicator –0.11 –0.09 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 49.7 45.1 53.5 Stock market return (%, year-on-year) –16.8 18.7 –0.2 The Little Data Book on Financial Development 2014 45 Burkina Faso Sub-Saharan Africa Low income Gross domestic product ($ billions) data 10.4 Population (millions) data 16.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.6 19.0 18.8 Deposit money banks’ assets to GDP (%) 12.5 19.8 21.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 13.4 Saved at a financial institution in the past year (%, age 15+) .. .. 7.9 Loan from a financial institution in the past year (%, age 15+) .. .. 3.1 Electronic payments used to make payments (%, age 15+) .. .. 0.6 Debit card (%, age 15+) .. .. 2.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 12.9 Firms with a checking or savings account (%) .. 95.3 96.8 Firms with bank loan/line of credit (%) .. 29.5 28.4 Firms using banks to finance investments (%) .. 23.1 25.6 Firms using banks to finance working capital (%) .. 19.4 33.1 Small firms with bank loan/line of credit (%) .. 21.7 21.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.1 6.9 4.0 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 5.1 6.0 6.9 Bank return on assets (%, after tax) 1.3 0.8 2.1 Bank return on equity (%, after tax) 16.3 9.0 26.4 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 8.9 8.2 9.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 71.5 51.9 70.2 Boone indicator –0.10 –0.08 –0.11 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 46 2014 The Little Data Book on Financial Development Sub-Saharan Africa Burundi Low income Gross domestic product ($ billions) 2.4 Population (millions) 9.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 20.8 14.7 16.8 Deposit money banks’ assets to GDP (%) 21.9 16.1 20.5 Nonbank financial institutions’ assets to GDP (%) 9.5 3.1 3.7 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 16 31 Bank branches per 100,000 adults (age 15+) .. 1.6 2.4 Account at a formal financial institution (%, age 15+) .. .. 7.2 Saved at a financial institution in the past year (%, age 15+) .. .. 3.3 Loan from a financial institution in the past year (%, age 15+) .. .. 1.7 Electronic payments used to make payments (%, age 15+) .. .. 0.1 Debit card (%, age 15+) .. .. 0.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 6.6 Firms with a checking or savings account (%) .. 90.5 .. Firms with bank loan/line of credit (%) .. 35.3 .. Firms using banks to finance investments (%) .. 12.3 .. Firms using banks to finance working capital (%) .. 25.5 .. Small firms with bank loan/line of credit (%) .. 28.9 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 11.5 13.8 4.5 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 5.5 9.2 4.3 Bank return on assets (%, after tax) 3.1 2.7 2.0 Bank return on equity (%, after tax) 23.5 24.5 15.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 21.0 16.2 19.7 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 89.1 100.0 89.3 Boone indicator –0.15 –0.22 –0.10 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 47 Cambodia East Asia & Pacific Low income Gross domestic product ($ billions) data 12.8 Population (millions) data 14.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 5.8 9.9 26.8 Deposit money banks’ assets to GDP (%) 5.9 10.0 26.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 2.3 4.3 Account at a formal financial institution (%, age 15+) .. .. 3.7 Saved at a financial institution in the past year (%, age 15+) .. .. 0.8 Loan from a financial institution in the past year (%, age 15+) .. .. 19.5 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 2.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 3.2 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. 20.7 .. Firms using banks to finance investments (%) .. 11.3 .. Firms using banks to finance working capital (%) .. 12.6 .. Small firms with bank loan/line of credit (%) .. 20.0 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.8 5.5 5.1 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 2.4 2.4 2.1 Bank return on assets (%, after tax) –4.4 2.9 1.7 Bank return on equity (%, after tax) –22.3 17.9 9.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 6.2 8.9 9.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 59.1 63.4 Boone indicator 0.24 –0.01 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 48 2014 The Little Data Book on Financial Development Sub-Saharan African Cameroon Lower middle income Gross domestic product ($ billions) 25.3 Population (millions) 21.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 8.2 9.1 12.2 Deposit money banks’ assets to GDP (%) 11.8 11.4 14.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 41 71 Bank branches per 100,000 adults (age 15+) .. 1.1 1.7 Account at a formal financial institution (%, age 15+) .. .. 14.8 Saved at a financial institution in the past year (%, age 15+) .. .. 9.9 Loan from a financial institution in the past year (%, age 15+) .. .. 4.5 Electronic payments used to make payments (%, age 15+) .. .. 0.4 Debit card (%, age 15+) .. .. 2.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 12.9 Firms with a checking or savings account (%) .. 94.7 92.5 Firms with bank loan/line of credit (%) .. 42.1 30.3 Firms using banks to finance investments (%) .. 19.5 31.4 Firms using banks to finance working capital (%) .. 41.9 41.6 Small firms with bank loan/line of credit (%) .. 25.6 19.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.7 4.5 4.3 Bank lending-deposit spread 15.7 11.0 .. Bank overhead costs to total assets (%) 2.9 3.2 3.7 Bank return on assets (%, after tax) 1.4 1.4 0.9 Bank return on equity (%, after tax) 19.5 16.2 12.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 29.3 34.5 29.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 75.6 57.6 83.5 Boone indicator –0.03 –0.04 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 49 Canada High income data Gross domestic product ($ billions) 1,777.8 Population (millions) data 34.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 100.1 129.6 .. Deposit money banks’ assets to GDP (%) 110.7 140.9 .. Nonbank financial institutions’ assets to GDP (%) 73.0 120.6 .. Depth—Financial Markets Stock market capitalization to GDP (%) 106.3 128.9 119.3 Stock market total value traded to GDP (%) 75.5 86.0 84.2 Outstanding domestic private debt securities to GDP (%) 31.0 31.8 26.4 Outstanding domestic public debt securities to GDP (%) 58.6 49.9 63.3 Outstanding international debt securities to GDP (%) 29.2 26.8 39.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 24.6 24.3 Account at a formal financial institution (%, age 15+) .. .. 95.8 Saved at a financial institution in the past year (%, age 15+) .. .. 53.2 Loan from a financial institution in the past year (%, age 15+) .. .. 20.3 Electronic payments used to make payments (%, age 15+) .. .. 69.2 Debit card (%, age 15+) .. .. 88.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 94.3 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 62.7 73.8 75.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 73.4 76.6 59.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) 11.6 10.7 11.3 Efficiency—Financial Institutions Bank net interest margin (%) 1.8 1.9 3.3 Bank lending-deposit spread 3.6 4.0 2.5 Bank overhead costs to total assets (%) 2.1 2.1 3.3 Bank return on assets (%, after tax) 0.4 0.9 1.4 Bank return on equity (%, after tax) 4.6 10.1 25.3 Efficiency—Financial Markets Stock market turnover ratio (%) 60.7 78.3 71.7 Stability—Financial Institutions Bank Z-score 21.5 22.2 16.4 Bank nonperforming loans to gross loans (%) 1.5 0.4 0.8 Bank regulatory capital to risk-weighted assets (%) 12.3 15.4 15.9 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 63.4 81.2 59.4 Boone indicator –0.09 –0.12 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 41.8 116.3 114.0 Stock market return (%, year-on-year) .. .. .. 50 2014 The Little Data Book on Financial Development Sub-Saharan Africa Cape Verde Lower middle income Gross domestic product ($ billions) 1.9 Population (thousands) 490.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 37.3 45.3 60.6 Deposit money banks’ assets to GDP (%) 50.5 63.1 76.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,038 1,569 Bank branches per 100,000 adults (age 15+) .. 17.9 30.7 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. 84.4 96.5 Firms with bank loan/line of credit (%) .. 46.9 41.5 Firms using banks to finance investments (%) .. 26.3 35.3 Firms using banks to finance working capital (%) .. 19.4 49.8 Small firms with bank loan/line of credit (%) .. 40.0 38.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. 4.8 Bank lending-deposit spread 8.2 5.4 6.5 Bank overhead costs to total assets (%) .. .. 3.2 Bank return on assets (%, after tax) .. .. 0.8 Bank return on equity (%, after tax) .. .. 12.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 91.4 Boone indicator .. .. 0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 51 Cayman Islands High income Gross domestic product ($ billions) .. data Population (thousands) data 56.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.2 1.5 2.3 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 1.1 0.8 2.8 Bank return on assets (%, after tax) 0.1 1.4 0.4 Bank return on equity (%, after tax) 1.4 15.2 4.9 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.7 7.8 9.4 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 73.6 65.2 100.0 Boone indicator –0.06 –0.04 –0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 23.1 20.0 0.0 Stock market return (%, year-on-year) .. .. .. 52 2014 The Little Data Book on Financial Development Central African Republic Sub-Saharan Africa Low income Gross domestic product ($ billions) 2.2 Population (millions) 4.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.9 6.2 9.1 Deposit money banks’ assets to GDP (%) 7.7 8.4 11.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 1 24 47 Bank branches per 100,000 adults (age 15+) 0.4 0.3 0.9 Account at a formal financial institution (%, age 15+) .. .. 3.3 Saved at a financial institution in the past year (%, age 15+) .. .. 2.5 Loan from a financial institution in the past year (%, age 15+) .. .. 0.9 Electronic payments used to make payments (%, age 15+) .. .. 0.1 Debit card (%, age 15+) .. .. 1.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 3.3 Firms with a checking or savings account (%) .. .. 98.5 Firms with bank loan/line of credit (%) .. .. 26.0 Firms using banks to finance investments (%) .. .. 25.3 Firms using banks to finance working capital (%) .. .. 25.3 Small firms with bank loan/line of credit (%) .. .. 27.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 11.7 8.3 Bank lending-deposit spread 15.7 11.0 .. Bank overhead costs to total assets (%) 7.8 5.1 6.0 Bank return on assets (%, after tax) 1.1 0.6 3.4 Bank return on equity (%, after tax) 11.5 4.7 27.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.7 12.2 19.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator –0.10 –0.02 0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 53 Chad Sub-Saharan Africa Low income Gross domestic product ($ billions) data 10.6 Population (millions) data 12.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 3.1 2.9 5.3 Deposit money banks’ assets to GDP (%) 5.2 5.3 7.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 7 21 Bank branches per 100,000 adults (age 15+) .. 0.4 0.7 Account at a formal financial institution (%, age 15+) .. .. 9.0 Saved at a financial institution in the past year (%, age 15+) .. .. 6.8 Loan from a financial institution in the past year (%, age 15+) .. .. 6.2 Electronic payments used to make payments (%, age 15+) .. .. 1.6 Debit card (%, age 15+) .. .. 5.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 8.7 Firms with a checking or savings account (%) .. .. 95.9 Firms with bank loan/line of credit (%) .. .. 20.6 Firms using banks to finance investments (%) .. .. 4.2 Firms using banks to finance working capital (%) .. .. 16.1 Small firms with bank loan/line of credit (%) .. .. 25.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.5 6.7 10.1 Bank lending-deposit spread 15.7 11.0 .. Bank overhead costs to total assets (%) 4.2 5.9 5.4 Bank return on assets (%, after tax) 1.4 2.2 2.4 Bank return on equity (%, after tax) 10.1 21.9 22.3 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 19.2 17.9 17.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 .. Boone indicator 0.00 .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 54 2014 The Little Data Book on Financial Development Chile High income Gross domestic product ($ billions) 251.2 Population (millions) 17.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. 65.5 Deposit money banks’ assets to GDP (%) .. .. 67.7 Nonbank financial institutions’ assets to GDP (%) .. .. 56.7 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. 126.3 Stock market total value traded to GDP (%) .. .. 22.8 Outstanding domestic private debt securities to GDP (%) .. .. 14.8 Outstanding domestic public debt securities to GDP (%) .. .. 18.8 Outstanding international debt securities to GDP (%) .. .. 7.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,651 2,133 Bank branches per 100,000 adults (age 15+) .. 13.8 17.5 Account at a formal financial institution (%, age 15+) .. .. 42.2 Saved at a financial institution in the past year (%, age 15+) .. .. 12.4 Loan from a financial institution in the past year (%, age 15+) .. .. 7.8 Electronic payments used to make payments (%, age 15+) .. .. 11.1 Debit card (%, age 15+) .. .. 25.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 38.7 Firms with a checking or savings account (%) .. 95.0 97.9 Firms with bank loan/line of credit (%) .. 69.1 79.6 Firms using banks to finance investments (%) .. 29.1 44.8 Firms using banks to finance working capital (%) .. 48.9 55.1 Small firms with bank loan/line of credit (%) .. 64.6 72.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 41.7 53.9 48.0 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 58.6 51.7 55.0 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 28.1 27.4 Efficiency—Financial Institutions Bank net interest margin (%) 4.6 4.2 3.6 Bank lending-deposit spread 5.7 2.9 3.7 Bank overhead costs to total assets (%) 2.9 2.5 4.6 Bank return on assets (%, after tax) 1.5 1.6 7.8 Bank return on equity (%, after tax) 16.9 18.3 13.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. 17.9 Stability—Financial Institutions Bank Z-score 5.3 5.3 35.7 Bank nonperforming loans to gross loans (%) 1.6 0.7 2.3 Bank regulatory capital to risk-weighted assets (%) 12.7 12.5 13.9 Stability—Financial Markets Stock price volatility 15.1 12.3 15.2 Other Indicators—Financial Institutions Bank concentration (%) 39.7 54.2 .. Boone indicator –0.06 –0.07 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 15.9 14.8 13.2 Stock market return (%, year-on-year) 2.5 11.2 4.6 The Little Data Book on Financial Development 2014 55 China East Asia & Pacific Upper middle income data Gross domestic product ($ billions) 7,321.9 Population (millions) data 1,344.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 107.9 104.5 121.5 Deposit money banks’ assets to GDP (%) 116.4 114.5 131.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 42.3 59.7 58.7 Stock market total value traded to GDP (%) 44.7 41.4 112.4 Outstanding domestic private debt securities to GDP (%) 7.6 12.8 23.1 Outstanding domestic public debt securities to GDP (%) 9.3 26.4 22.4 Outstanding international debt securities to GDP (%) 1.3 1.1 1.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 63.8 Saved at a financial institution in the past year (%, age 15+) .. .. 32.1 Loan from a financial institution in the past year (%, age 15+) .. .. 7.3 Electronic payments used to make payments (%, age 15+) .. .. 6.9 Debit card (%, age 15+) .. .. 41.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 53.4 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 94.2 85.0 91.7 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 85.7 60.6 74.7 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.7 6.2 20.0 Efficiency—Financial Institutions Bank net interest margin (%) 2.1 2.7 2.9 Bank lending-deposit spread 3.6 3.6 3.1 Bank overhead costs to total assets (%) 0.9 1.2 1.2 Bank return on assets (%, after tax) 0.4 1.0 0.8 Bank return on equity (%, after tax) 7.0 19.2 13.0 Efficiency—Financial Markets Stock market turnover ratio (%) 80.2 100.9 178.4 Stability—Financial Institutions Bank Z-score 14.4 19.6 19.6 Bank nonperforming loans to gross loans (%) 29.8 7.1 1.0 Bank regulatory capital to risk-weighted assets (%) 12.8 4.9 12.7 Stability—Financial Markets Stock price volatility 19.8 21.6 22.1 Other Indicators—Financial Institutions Bank concentration (%) 57.2 70.1 50.8 Boone indicator –0.01 –0.02 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.9 1.1 1.7 Stock market return (%, year-on-year) 3.9 41.3 –5.8 56 2014 The Little Data Book on Financial Development Latin America & Caribbean Colombia Upper middle income Gross domestic product ($ billions) 336.3 Population (millions) 47.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 20.8 25.7 32.0 Deposit money banks’ assets to GDP (%) 29.1 34.3 39.8 Nonbank financial institutions’ assets to GDP (%) 3.8 7.3 37.3 Depth—Financial Markets Stock market capitalization to GDP (%) 11.3 31.3 62.8 Stock market total value traded to GDP (%) 0.4 5.4 7.7 Outstanding domestic private debt securities to GDP (%) 0.2 0.4 0.6 Outstanding domestic public debt securities to GDP (%) 17.8 25.7 22.9 Outstanding international debt securities to GDP (%) 10.1 9.0 8.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 1,115 Bank branches per 100,000 adults (age 15+) .. 13.4 15.0 Account at a formal financial institution (%, age 15+) .. .. 30.4 Saved at a financial institution in the past year (%, age 15+) .. .. 9.2 Loan from a financial institution in the past year (%, age 15+) .. .. 11.9 Electronic payments used to make payments (%, age 15+) .. .. 6.8 Debit card (%, age 15+) .. .. 22.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 28.2 Firms with a checking or savings account (%) .. 94.2 95.8 Firms with bank loan/line of credit (%) .. 52.3 57.2 Firms using banks to finance investments (%) .. 30.6 35.0 Firms using banks to finance working capital (%) .. 55.7 49.2 Small firms with bank loan/line of credit (%) .. 41.2 50.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 74.6 35.3 31.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 51.5 32.6 20.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.0 1.7 2.3 Efficiency—Financial Institutions Bank net interest margin (%) 4.0 4.0 6.1 Bank lending-deposit spread 8.3 6.6 7.0 Bank overhead costs to total assets (%) 8.8 4.5 8.0 Bank return on assets (%, after tax) 1.0 1.8 2.2 Bank return on equity (%, after tax) 10.1 14.1 16.6 Efficiency—Financial Markets Stock market turnover ratio (%) 3.2 22.2 12.9 Stability—Financial Institutions Bank Z-score 4.5 5.8 6.4 Bank nonperforming loans to gross loans (%) 9.7 2.7 2.5 Bank regulatory capital to risk-weighted assets (%) 13.0 15.4 16.9 Stability—Financial Markets Stock price volatility 18.6 29.2 16.5 Other Indicators—Financial Institutions Bank concentration (%) 44.4 77.7 51.5 Boone indicator –0.09 –0.07 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.0 2.6 1.7 Stock market return (%, year-on-year) 31.5 63.0 4.4 The Little Data Book on Financial Development 2014 57 Comoros Sub-Saharan Africa Low income Gross domestic product ($ millions) data 610.4 Population (thousands) data 700.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 7.5 8.0 16.8 Deposit money banks’ assets to GDP (%) 7.7 8.6 18.1 Nonbank financial institutions’ assets to GDP (%) 3.1 1.5 2.7 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 0 50 74 Bank branches per 100,000 adults (age 15+) 0.9 0.5 1.4 Account at a formal financial institution (%, age 15+) .. .. 21.7 Saved at a financial institution in the past year (%, age 15+) .. .. 10.8 Loan from a financial institution in the past year (%, age 15+) .. .. 7.2 Electronic payments used to make payments (%, age 15+) .. .. 0.4 Debit card (%, age 15+) .. .. 5.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 21.0 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread 9.0 8.0 5.3 Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 58 2014 The Little Data Book on Financial Development Sub-Saharan Africa Congo, Dem. Rep. Low income Gross domestic product ($ billions) 15.7 Population (millions) 63.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 1.0 2.1 .. Deposit money banks’ assets to GDP (%) 1.2 2.6 .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 3.7 Saved at a financial institution in the past year (%, age 15+) .. .. 1.5 Loan from a financial institution in the past year (%, age 15+) .. .. 1.5 Electronic payments used to make payments (%, age 15+) .. .. 0.3 Debit card (%, age 15+) .. .. 1.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 3.7 Firms with a checking or savings account (%) .. 43.1 71.3 Firms with bank loan/line of credit (%) .. 5.0 10.7 Firms using banks to finance investments (%) .. 3.3 6.7 Firms using banks to finance working capital (%) .. 5.8 8.8 Small firms with bank loan/line of credit (%) .. 4.0 9.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.0 11.7 10.8 Bank lending-deposit spread .. 32.6 30.4 Bank overhead costs to total assets (%) 1.8 12.7 9.9 Bank return on assets (%, after tax) 0.0 3.2 1.0 Bank return on equity (%, after tax) 0.1 32.4 8.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 3.4 4.5 4.2 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 88.7 55.1 56.6 Boone indicator 0.03 –0.10 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 59 Congo, Rep. Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) data 14.4 Population (millions) 4.2 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 5.1 2.0 5.7 Deposit money banks’ assets to GDP (%) 6.5 2.5 6.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 19.6 .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 21 69 Bank branches per 100,000 adults (age 15+) .. 0.7 2.7 Account at a formal financial institution (%, age 15+) .. .. 9.0 Saved at a financial institution in the past year (%, age 15+) .. .. 5.5 Loan from a financial institution in the past year (%, age 15+) .. .. 2.8 Electronic payments used to make payments (%, age 15+) .. .. 2.1 Debit card (%, age 15+) .. .. 3.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 8.4 Firms with a checking or savings account (%) .. .. 86.7 Firms with bank loan/line of credit (%) .. .. 12.8 Firms using banks to finance investments (%) .. .. 7.7 Firms using banks to finance working capital (%) .. .. 9.7 Small firms with bank loan/line of credit (%) .. .. 7.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 3.2 1.4 Bank lending-deposit spread 15.7 11.0 .. Bank overhead costs to total assets (%) .. 8.3 4.2 Bank return on assets (%, after tax) .. –1.3 1.2 Bank return on equity (%, after tax) .. –23.0 19.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 60 2014 The Little Data Book on Financial Development Latin America & Caribbean Costa Rica Upper middle income Gross domestic product ($ billions) 41.0 Population (millions) 4.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 24.9 33.6 44.6 Deposit money banks’ assets to GDP (%) 28.6 39.6 50.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 17.8 7.4 3.6 Stock market total value traded to GDP (%) 2.0 0.2 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 7.6 8.0 3.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 809 1,118 Bank branches per 100,000 adults (age 15+) .. 18.6 23.1 Account at a formal financial institution (%, age 15+) .. .. 50.4 Saved at a financial institution in the past year (%, age 15+) .. .. 19.9 Loan from a financial institution in the past year (%, age 15+) .. .. 10.0 Electronic payments used to make payments (%, age 15+) .. .. 14.5 Debit card (%, age 15+) .. .. 43.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 47.6 Firms with a checking or savings account (%) .. .. 97.5 Firms with bank loan/line of credit (%) .. .. 56.8 Firms using banks to finance investments (%) .. 14.9 22.2 Firms using banks to finance working capital (%) .. 15.8 30.1 Small firms with bank loan/line of credit (%) .. .. 41.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.2 7.0 5.7 Bank lending-deposit spread 12.1 12.4 12.1 Bank overhead costs to total assets (%) 5.9 5.4 4.9 Bank return on assets (%, after tax) 1.7 2.0 1.1 Bank return on equity (%, after tax) 15.3 17.6 9.1 Efficiency—Financial Markets Stock market turnover ratio (%) 4.1 3.2 2.5 Stability—Financial Institutions Bank Z-score 28.4 29.4 29.3 Bank nonperforming loans to gross loans (%) 2.4 1.4 1.8 Bank regulatory capital to risk-weighted assets (%) 15.1 18.8 17.7 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 53.4 59.4 58.1 Boone indicator –0.08 –0.08 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.5 3.6 1.9 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 61 Côte d’Ivoire Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) 24.1 data Population (millions) data 19.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 14.4 13.8 19.3 Deposit money banks’ assets to GDP (%) 18.3 17.1 24.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 11.1 18.9 28.9 Stock market total value traded to GDP (%) 0.2 0.4 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 11.8 6.9 11.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 67.4 Firms with bank loan/line of credit (%) .. .. 11.5 Firms using banks to finance investments (%) .. .. 13.9 Firms using banks to finance working capital (%) .. .. 8.3 Small firms with bank loan/line of credit (%) .. .. 10.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.2 5.1 3.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 5.3 6.6 5.1 Bank return on assets (%, after tax) 0.5 1.7 1.3 Bank return on equity (%, after tax) 7.9 15.8 13.3 Efficiency—Financial Markets Stock market turnover ratio (%) 0.7 3.3 1.8 Stability—Financial Institutions Bank Z-score 16.2 22.5 19.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 77.2 60.9 80.9 Boone indicator –0.05 –0.08 –0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.3 2.3 1.7 Stock market return (%, year-on-year) .. .. .. 62 2014 The Little Data Book on Financial Development Croatia High income Gross domestic product ($ billions) 61.8 Population (millions) 4.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 33.1 53.8 69.1 Deposit money banks’ assets to GDP (%) 45.4 66.9 93.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 13.2 42.4 38.7 Stock market total value traded to GDP (%) 0.7 2.6 1.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 10.6 15.8 19.8 Outstanding international debt securities to GDP (%) 16.2 12.3 13.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 1,419 Bank branches per 100,000 adults (age 15+) .. 30.8 34.8 Account at a formal financial institution (%, age 15+) .. .. 88.4 Saved at a financial institution in the past year (%, age 15+) .. .. 12.2 Loan from a financial institution in the past year (%, age 15+) .. .. 14.4 Electronic payments used to make payments (%, age 15+) .. .. 17.3 Debit card (%, age 15+) .. .. 74.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 86.3 Firms with a checking or savings account (%) .. 99.8 .. Firms with bank loan/line of credit (%) .. 67.3 .. Firms using banks to finance investments (%) 35.8 60.0 .. Firms using banks to finance working capital (%) 32.6 63.2 .. Small firms with bank loan/line of credit (%) .. 60.2 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 8.4 6.5 Efficiency—Financial Institutions Bank net interest margin (%) 4.1 3.2 3.7 Bank lending-deposit spread 6.3 8.2 8.0 Bank overhead costs to total assets (%) 3.6 2.5 2.1 Bank return on assets (%, after tax) 0.8 1.1 1.0 Bank return on equity (%, after tax) 8.3 11.5 6.8 Efficiency—Financial Markets Stock market turnover ratio (%) 3.9 8.6 4.0 Stability—Financial Institutions Bank Z-score 38.1 41.9 57.6 Bank nonperforming loans to gross loans (%) 7.3 5.2 12.3 Bank regulatory capital to risk-weighted assets (%) 18.5 14.0 19.2 Stability—Financial Markets Stock price volatility 24.2 15.4 14.9 Other Indicators—Financial Institutions Bank concentration (%) 56.0 57.0 56.6 Boone indicator –0.12 –0.12 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 14.0 41.2 48.8 Stock market return (%, year-on-year) 1.3 42.4 4.7 The Little Data Book on Financial Development 2014 63 Cuba Latin America & Caribbean Upper middle income Gross domestic product ($ billions) data 60.8 Population (millions) data 11.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.7 1.5 1.1 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.7 0.4 0.1 Bank return on assets (%, after tax) 2.7 0.9 0.9 Bank return on equity (%, after tax) 26.7 15.6 9.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.6 6.5 9.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 90.3 94.6 .. Boone indicator –0.11 0.00 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 64 2014 The Little Data Book on Financial Development CyprusHigh income Gross domestic product ($ billions) 25.0 Population (millions) 1.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 156.5 163.5 284.6 Deposit money banks’ assets to GDP (%) 175.1 187.7 311.7 Nonbank financial institutions’ assets to GDP (%) 46.5 44.2 .. Depth—Financial Markets Stock market capitalization to GDP (%) 53.0 60.6 20.4 Stock market total value traded to GDP (%) 63.6 12.6 2.3 Outstanding domestic private debt securities to GDP (%) .. 8.7 6.0 Outstanding domestic public debt securities to GDP (%) .. 35.7 18.2 Outstanding international debt securities to GDP (%) 15.4 26.8 69.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 116.5 103.9 Account at a formal financial institution (%, age 15+) .. .. 85.2 Saved at a financial institution in the past year (%, age 15+) .. .. 30.4 Loan from a financial institution in the past year (%, age 15+) .. .. 27.0 Electronic payments used to make payments (%, age 15+) .. .. 30.2 Debit card (%, age 15+) .. .. 46.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 82.1 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. 13.0 0.4 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. 16.5 17.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.7 3.0 3.0 Bank lending-deposit spread 1.8 3.3 .. Bank overhead costs to total assets (%) 8.2 2.3 2.0 Bank return on assets (%, after tax) 2.8 1.1 –4.0 Bank return on equity (%, after tax) 27.6 20.0 –54.4 Efficiency—Financial Markets Stock market turnover ratio (%) 67.0 38.5 9.5 Stability—Financial Institutions Bank Z-score 7.0 3.9 1.0 Bank nonperforming loans to gross loans (%) .. 3.6 7.2 Bank regulatory capital to risk-weighted assets (%) .. 11.0 12.8 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 80.6 91.0 90.6 Boone indicator –0.03 0.03 0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 150.8 134.5 104.8 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 65 Czech Republic High income Gross domestic product ($ billions) data 216.0 Population (millions) data 10.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 42.0 37.5 .. Deposit money banks’ assets to GDP (%) 50.3 51.4 17.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 16.2 30.4 19.7 Stock market total value traded to GDP (%) 8.0 26.1 7.1 Outstanding domestic private debt securities to GDP (%) 6.9 7.1 12.8 Outstanding domestic public debt securities to GDP (%) 14.4 21.4 25.4 Outstanding international debt securities to GDP (%) 1.4 4.7 12.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 22.0 23.1 Account at a formal financial institution (%, age 15+) .. .. 80.7 Saved at a financial institution in the past year (%, age 15+) .. .. 35.5 Loan from a financial institution in the past year (%, age 15+) .. .. 9.5 Electronic payments used to make payments (%, age 15+) .. .. 44.7 Debit card (%, age 15+) .. .. 61.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 80.2 Firms with a checking or savings account (%) .. .. 98.1 Firms with bank loan/line of credit (%) .. .. 46.6 Firms using banks to finance investments (%) 22.1 20.8 33.4 Firms using banks to finance working capital (%) 21.4 28.2 .. Small firms with bank loan/line of credit (%) .. .. 39.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.8 3.0 3.0 Bank lending-deposit spread 4.3 4.4 4.7 Bank overhead costs to total assets (%) 3.5 2.5 1.7 Bank return on assets (%, after tax) 0.7 1.5 1.4 Bank return on equity (%, after tax) 10.4 17.9 14.5 Efficiency—Financial Markets Stock market turnover ratio (%) 32.2 72.9 36.4 Stability—Financial Institutions Bank Z-score 9.7 13.3 14.5 Bank nonperforming loans to gross loans (%) 13.7 3.6 5.5 Bank regulatory capital to risk-weighted assets (%) 15.0 11.4 15.3 Stability—Financial Markets Stock price volatility 24.2 18.5 20.5 Other Indicators—Financial Institutions Bank concentration (%) 72.0 67.6 65.4 Boone indicator –0.55 –0.16 –0.13 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 9.2 2.8 1.4 Stock market return (%, year-on-year) –25.5 17.9 –5.2 66 2014 The Little Data Book on Financial Development Denmark High income Gross domestic product ($ billions) 333.6 Population (millions) 5.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 137.2 174.8 .. Deposit money banks’ assets to GDP (%) 149.3 183.9 10.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 60.2 75.2 63.7 Stock market total value traded to GDP (%) 49.8 60.5 45.5 Outstanding domestic private debt securities to GDP (%) 107.4 148.9 181.3 Outstanding domestic public debt securities to GDP (%) 49.8 38.5 39.2 Outstanding international debt securities to GDP (%) 15.3 27.4 48.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) 52.4 50.5 39.0 Account at a formal financial institution (%, age 15+) .. .. 99.7 Saved at a financial institution in the past year (%, age 15+) .. .. 56.5 Loan from a financial institution in the past year (%, age 15+) .. .. 18.8 Electronic payments used to make payments (%, age 15+) .. .. 85.6 Debit card (%, age 15+) .. .. 90.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 99.2 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) 0.7 0.4 0.2 Efficiency—Financial Institutions Bank net interest margin (%) 1.6 1.1 1.1 Bank lending-deposit spread 4.9 .. .. Bank overhead costs to total assets (%) 1.3 1.0 0.9 Bank return on assets (%, after tax) 0.7 0.9 0.1 Bank return on equity (%, after tax) 10.9 16.7 1.4 Efficiency—Financial Markets Stock market turnover ratio (%) 73.0 85.6 70.8 Stability—Financial Institutions Bank Z-score 16.9 16.4 13.2 Bank nonperforming loans to gross loans (%) 0.7 0.6 3.5 Bank regulatory capital to risk-weighted assets (%) 13.5 10.6 17.0 Stability—Financial Markets Stock price volatility 20.4 14.4 19.5 Other Indicators—Financial Institutions Bank concentration (%) 85.1 80.6 81.9 Boone indicator –0.09 –0.09 –0.04 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 38.8 37.0 33.4 Stock market return (%, year-on-year) –2.5 15.9 3.4 The Little Data Book on Financial Development 2014 67 Djibouti Middle East & North Africa Lower middle income Gross domestic product ($ billions) 1.2 data Population (thousands) data 846.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 28.7 19.4 25.8 Deposit money banks’ assets to GDP (%) 30.4 21.1 28.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 23 91 Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 12.3 Saved at a financial institution in the past year (%, age 15+) .. .. 3.4 Loan from a financial institution in the past year (%, age 15+) .. .. 4.5 Electronic payments used to make payments (%, age 15+) .. .. 1.5 Debit card (%, age 15+) .. .. 7.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 9.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.7 2.2 2.9 Bank lending-deposit spread 8.7 8.1 9.1 Bank overhead costs to total assets (%) 4.7 1.8 3.9 Bank return on assets (%, after tax) 1.2 1.2 1.0 Bank return on equity (%, after tax) 11.6 22.9 20.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.3 10.1 9.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator 0.00 –0.01 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 68 2014 The Little Data Book on Financial Development Latin America & Caribbean Dominica Upper middle income Gross domestic product ($ millions) 476.5 Population (thousands) 71.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 50.1 48.4 56.2 Deposit money banks’ assets to GDP (%) 65.0 56.9 63.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 17.5 17.7 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 32.8 Firms using banks to finance investments (%) .. .. 46.2 Firms using banks to finance working capital (%) .. .. 37.9 Small firms with bank loan/line of credit (%) .. .. 15.3 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 3.1 2.2 Bank lending-deposit spread 7.2 6.2 5.6 Bank overhead costs to total assets (%) .. 3.3 2.9 Bank return on assets (%, after tax) .. –1.5 0.4 Bank return on equity (%, after tax) .. –9.6 3.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 8.9 7.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 69 Dominican Republic Latin America & Caribbean Upper middle income Gross domestic product ($ billions) data 55.7 Population (millions) data 10.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 30.0 17.8 22.0 Deposit money banks’ assets to GDP (%) 32.9 20.6 25.4 Nonbank financial institutions’ assets to GDP (%) 8.1 6.4 4.7 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 3.9 1.5 4.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 584 Bank branches per 100,000 adults (age 15+) .. 9.8 10.7 Account at a formal financial institution (%, age 15+) .. .. 38.2 Saved at a financial institution in the past year (%, age 15+) .. .. 16.0 Loan from a financial institution in the past year (%, age 15+) .. .. 13.9 Electronic payments used to make payments (%, age 15+) .. .. 4.4 Debit card (%, age 15+) .. .. 21.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 34.2 Firms with a checking or savings account (%) .. .. 98.4 Firms with bank loan/line of credit (%) .. .. 56.9 Firms using banks to finance investments (%) .. .. 39.1 Firms using banks to finance working capital (%) .. .. 72.4 Small firms with bank loan/line of credit (%) .. .. 49.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.6 10.3 10.5 Bank lending-deposit spread 8.7 9.6 7.7 Bank overhead costs to total assets (%) 5.2 10.7 7.1 Bank return on assets (%, after tax) 1.8 1.1 1.8 Bank return on equity (%, after tax) 16.3 13.4 18.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 15.6 20.1 15.5 Bank nonperforming loans to gross loans (%) 2.5 4.5 2.6 Bank regulatory capital to risk-weighted assets (%) 11.8 12.3 14.5 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 71.8 66.0 71.2 Boone indicator –0.23 –0.18 –0.18 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 70 2014 The Little Data Book on Financial Development Latin America & Caribbean Ecuador Upper middle income Gross domestic product ($ billions) 77.7 Population (millions) 15.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 26.0 21.9 28.2 Deposit money banks’ assets to GDP (%) 28.3 22.5 28.7 Nonbank financial institutions’ assets to GDP (%) 3.8 0.4 2.9 Depth—Financial Markets Stock market capitalization to GDP (%) 4.4 7.7 7.1 Stock market total value traded to GDP (%) 0.0 0.5 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 41.6 16.2 4.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 36.7 Saved at a financial institution in the past year (%, age 15+) .. .. 14.5 Loan from a financial institution in the past year (%, age 15+) .. .. 10.6 Electronic payments used to make payments (%, age 15+) .. .. 4.2 Debit card (%, age 15+) .. .. 17.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 34.8 Firms with a checking or savings account (%) .. 97.6 100.0 Firms with bank loan/line of credit (%) .. 55.6 48.9 Firms using banks to finance investments (%) .. 24.0 17.0 Firms using banks to finance working capital (%) .. 41.9 42.3 Small firms with bank loan/line of credit (%) .. 47.3 43.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.2 5.8 6.8 Bank lending-deposit spread 9.4 5.6 .. Bank overhead costs to total assets (%) 7.7 6.8 5.8 Bank return on assets (%, after tax) –4.4 2.1 1.8 Bank return on equity (%, after tax) 14.7 23.0 17.5 Efficiency—Financial Markets Stock market turnover ratio (%) 0.9 8.0 1.9 Stability—Financial Institutions Bank Z-score –4.7 –1.1 2.2 Bank nonperforming loans to gross loans (%) 13.4 4.1 3.2 Bank regulatory capital to risk-weighted assets (%) 13.5 19.2 18.1 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 46.8 52.6 56.5 Boone indicator 0.00 –0.04 –0.02 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.4 2.4 2.7 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 71 Egypt, Arab Rep. Middle East & North Africa Lower middle income Gross domestic product ($ billions) data 236.0 Population (millions) data 79.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 52.2 46.9 30.4 Deposit money banks’ assets to GDP (%) 77.6 75.4 64.6 Nonbank financial institutions’ assets to GDP (%) 7.4 6.0 .. Depth—Financial Markets Stock market capitalization to GDP (%) 26.1 82.1 27.5 Stock market total value traded to GDP (%) 7.3 33.9 12.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.7 4.2 2.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 3.9 4.6 Account at a formal financial institution (%, age 15+) .. .. 9.7 Saved at a financial institution in the past year (%, age 15+) .. .. 0.7 Loan from a financial institution in the past year (%, age 15+) .. .. 3.7 Electronic payments used to make payments (%, age 15+) .. .. 0.4 Debit card (%, age 15+) .. .. 5.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 6.2 Firms with a checking or savings account (%) .. 73.3 .. Firms with bank loan/line of credit (%) .. 12.1 .. Firms using banks to finance investments (%) .. 8.7 .. Firms using banks to finance working capital (%) .. 9.8 .. Small firms with bank loan/line of credit (%) .. 4.5 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. 42.2 54.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. 49.9 53.6 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.3 1.3 2.5 Bank lending-deposit spread 3.8 6.6 4.3 Bank overhead costs to total assets (%) 1.3 1.4 1.6 Bank return on assets (%, after tax) 0.6 0.5 0.7 Bank return on equity (%, after tax) 9.7 9.2 11.0 Efficiency—Financial Markets Stock market turnover ratio (%) 15.3 53.8 33.9 Stability—Financial Institutions Bank Z-score 32.7 32.9 39.5 Bank nonperforming loans to gross loans (%) 16.9 18.2 11.0 Bank regulatory capital to risk-weighted assets (%) 9.9 14.7 16.4 Stability—Financial Markets Stock price volatility 31.2 31.1 27.1 Other Indicators—Financial Institutions Bank concentration (%) 59.6 58.4 60.7 Boone indicator –0.08 –0.07 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 16.5 8.3 2.9 Stock market return (%, year-on-year) –33.1 35.0 –26.1 72 2014 The Little Data Book on Financial Development Latin America & Caribbean El Salvador Lower middle income Gross domestic product ($ billions) 23.1 Population (millions) 6.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.8 4.7 4.4 Deposit money banks’ assets to GDP (%) 5.2 5.0 4.7 Nonbank financial institutions’ assets to GDP (%) 0.1 0.5 2.5 Depth—Financial Markets Stock market capitalization to GDP (%) 12.4 24.5 21.3 Stock market total value traded to GDP (%) 0.2 0.6 0.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 2.8 18.1 18.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. 19.1 Account at a formal financial institution (%, age 15+) .. .. 13.8 Saved at a financial institution in the past year (%, age 15+) .. .. 12.9 Loan from a financial institution in the past year (%, age 15+) .. .. 3.9 Electronic payments used to make payments (%, age 15+) .. .. 3.0 Debit card (%, age 15+) .. .. 10.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 13.2 Firms with a checking or savings account (%) .. 91.9 94.7 Firms with bank loan/line of credit (%) .. 48.9 53.1 Firms using banks to finance investments (%) .. 17.3 31.7 Firms using banks to finance working capital (%) .. 39.0 44.5 Small firms with bank loan/line of credit (%) .. 44.4 45.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.7 6.6 5.9 Bank lending-deposit spread 4.6 .. .. Bank overhead costs to total assets (%) 3.2 3.2 3.5 Bank return on assets (%, after tax) 1.0 1.9 2.2 Bank return on equity (%, after tax) 12.0 15.7 14.6 Efficiency—Financial Markets Stock market turnover ratio (%) 1.4 3.7 1.6 Stability—Financial Institutions Bank Z-score 15.9 23.7 29.7 Bank nonperforming loans to gross loans (%) 4.3 1.9 3.6 Bank regulatory capital to risk-weighted assets (%) 11.8 13.8 17.1 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 72.8 64.4 58.2 Boone indicator –0.07 –0.07 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.3 7.9 10.4 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 73 Equatorial Guinea High income Gross domestic product ($ billions) data 16.8 Population (thousands) data 716.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 2.7 2.5 6.6 Deposit money banks’ assets to GDP (%) 2.8 2.6 7.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 131 257 Bank branches per 100,000 adults (age 15+) 3.3 5.1 4.9 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 2.6 5.0 Bank lending-deposit spread 15.7 11.0 .. Bank overhead costs to total assets (%) .. 1.9 2.5 Bank return on assets (%, after tax) .. 1.4 1.0 Bank return on equity (%, after tax) .. 27.2 22.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 18.1 20.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 74 2014 The Little Data Book on Financial Development Sub-Saharan Africa Eritrea Low income Gross domestic product ($ billions) 2.6 Population (millions) 5.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 98.2 Firms with bank loan/line of credit (%) .. .. 10.9 Firms using banks to finance investments (%) .. .. 11.9 Firms using banks to finance working capital (%) .. .. 5.7 Small firms with bank loan/line of credit (%) .. .. 6.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 1.6 .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 0.1 1.1 .. Bank return on assets (%, after tax) 0.7 2.4 .. Bank return on equity (%, after tax) 14.2 45.5 .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 6.0 7.5 .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator 0.00 .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 75 Estonia High income Gross domestic product ($ billions) data 22.2 Population (millions) 1.3 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 35.8 70.6 87.1 Deposit money banks’ assets to GDP (%) 37.1 71.9 90.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 26.6 28.2 9.1 Stock market total value traded to GDP (%) 4.4 10.5 1.3 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 2.1 3.5 2.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,695 2,040 Bank branches per 100,000 adults (age 15+) .. 22.7 18.6 Account at a formal financial institution (%, age 15+) .. .. 96.8 Saved at a financial institution in the past year (%, age 15+) .. .. 28.9 Loan from a financial institution in the past year (%, age 15+) .. .. 7.7 Electronic payments used to make payments (%, age 15+) .. .. 74.1 Debit card (%, age 15+) .. .. 92.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 95.2 Firms with a checking or savings account (%) .. .. 97.4 Firms with bank loan/line of credit (%) .. .. 50.8 Firms using banks to finance investments (%) 26.6 25.0 41.5 Firms using banks to finance working capital (%) 24.3 21.6 .. Small firms with bank loan/line of credit (%) .. .. 43.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.3 2.7 2.3 Bank lending-deposit spread 3.7 2.2 4.8 Bank overhead costs to total assets (%) 3.5 1.9 1.5 Bank return on assets (%, after tax) 3.2 2.1 4.4 Bank return on equity (%, after tax) 20.9 25.1 33.3 Efficiency—Financial Markets Stock market turnover ratio (%) 13.2 20.5 12.1 Stability—Financial Institutions Bank Z-score 11.8 6.4 11.1 Bank nonperforming loans to gross loans (%) 1.3 0.2 4.0 Bank regulatory capital to risk-weighted assets (%) 14.4 13.2 18.6 Stability—Financial Markets Stock price volatility 20.8 10.4 22.4 Other Indicators—Financial Institutions Bank concentration (%) 97.7 97.4 99.6 Boone indicator 0.06 0.00 0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 12.5 11.9 11.2 Stock market return (%, year-on-year) –8.3 10.8 11.5 76 2014 The Little Data Book on Financial Development Sub-Saharan Africa Ethiopia Low income Gross domestic product ($ billions) 31.7 Population (millions) 89.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 17.8 18.1 .. Deposit money banks’ assets to GDP (%) 28.8 27.7 .. Nonbank financial institutions’ assets to GDP (%) 4.8 3.5 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 66 115 Bank branches per 100,000 adults (age 15+) .. 0.9 2.0 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. 91.8 94.7 Firms with bank loan/line of credit (%) .. 46.0 15.8 Firms using banks to finance investments (%) .. 10.9 16.6 Firms using banks to finance working capital (%) .. 40.7 13.6 Small firms with bank loan/line of credit (%) .. 30.8 3.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.3 4.5 5.4 Bank lending-deposit spread 4.9 3.4 .. Bank overhead costs to total assets (%) 2.4 2.5 2.1 Bank return on assets (%, after tax) 1.5 3.2 2.9 Bank return on equity (%, after tax) 15.6 35.3 35.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 10.3 11.6 9.2 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 97.6 88.6 83.2 Boone indicator –0.03 –0.04 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 77 Faeroe Islands High income Gross domestic product ($ billions) 2.2 data Population (thousands) data 49.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 78 2014 The Little Data Book on Financial Development East Asia & Pacific Upper middle income Fiji Gross domestic product ($ billions) 3.8 Population (thousands) 867.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 29.7 40.1 50.1 Deposit money banks’ assets to GDP (%) 36.2 46.9 55.2 Nonbank financial institutions’ assets to GDP (%) 68.4 68.0 78.4 Depth—Financial Markets Stock market capitalization to GDP (%) 10.7 19.3 11.2 Stock market total value traded to GDP (%) 0.2 0.1 0.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 10.5 11.0 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 96.1 Firms with bank loan/line of credit (%) .. .. 37.8 Firms using banks to finance investments (%) .. .. 37.1 Firms using banks to finance working capital (%) .. .. 50.7 Small firms with bank loan/line of credit (%) .. .. 25.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 5.1 .. Bank lending-deposit spread 5.7 1.8 3.7 Bank overhead costs to total assets (%) .. 4.8 .. Bank return on assets (%, after tax) .. 0.7 .. Bank return on equity (%, after tax) .. 10.3 .. Efficiency—Financial Markets Stock market turnover ratio (%) 0.5 0.5 1.5 Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 19.3 20.7 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 79 Finland High income Gross domestic product ($ billions) data 263.2 Population (millions) 5.4 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 53.5 75.1 93.9 Deposit money banks’ assets to GDP (%) 59.9 79.1 100.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 192.4 114.6 50.9 Stock market total value traded to GDP (%) 153.4 152.1 53.5 Outstanding domestic private debt securities to GDP (%) 19.8 23.8 21.4 Outstanding domestic public debt securities to GDP (%) 27.3 9.1 12.2 Outstanding international debt securities to GDP (%) 30.2 45.6 58.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 16.9 15.0 Account at a formal financial institution (%, age 15+) .. .. 99.7 Saved at a financial institution in the past year (%, age 15+) .. .. 56.1 Loan from a financial institution in the past year (%, age 15+) .. .. 23.9 Electronic payments used to make payments (%, age 15+) .. .. 88.2 Debit card (%, age 15+) .. .. 89.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 99.6 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.3 1.0 0.6 Bank lending-deposit spread 3.8 2.7 .. Bank overhead costs to total assets (%) 0.2 0.7 0.4 Bank return on assets (%, after tax) 0.1 0.9 0.3 Bank return on equity (%, after tax) 1.8 9.7 8.8 Efficiency—Financial Markets Stock market turnover ratio (%) 74.7 149.7 130.0 Stability—Financial Institutions Bank Z-score 12.2 29.2 9.9 Bank nonperforming loans to gross loans (%) 0.6 0.2 0.5 Bank regulatory capital to risk-weighted assets (%) 10.5 15.1 14.2 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 99.5 96.1 Boone indicator 0.36 0.11 0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 29.3 25.4 22.5 Stock market return (%, year-on-year) .. .. .. 80 2014 The Little Data Book on Financial Development FranceHigh income Gross domestic product ($ billions) 2,779.7 Population (millions) 65.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 85.1 93.7 113.6 Deposit money banks’ assets to GDP (%) 103.1 111.2 131.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 96.6 93.4 65.1 Stock market total value traded to GDP (%) 79.7 89.8 54.5 Outstanding domestic private debt securities to GDP (%) 35.2 39.1 56.3 Outstanding domestic public debt securities to GDP (%) 44.0 51.2 63.1 Outstanding international debt securities to GDP (%) 28.4 51.5 75.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 46.0 41.6 Account at a formal financial institution (%, age 15+) .. .. 97.0 Saved at a financial institution in the past year (%, age 15+) .. .. 49.5 Loan from a financial institution in the past year (%, age 15+) .. .. 18.6 Electronic payments used to make payments (%, age 15+) .. .. 65.1 Debit card (%, age 15+) .. .. 69.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 94.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.9 0.7 1.0 Bank lending-deposit spread 4.0 4.4 .. Bank overhead costs to total assets (%) 1.2 0.9 0.8 Bank return on assets (%, after tax) 0.4 0.7 0.1 Bank return on equity (%, after tax) 11.3 20.9 3.4 Efficiency—Financial Markets Stock market turnover ratio (%) 83.4 118.9 81.5 Stability—Financial Institutions Bank Z-score 17.6 16.9 13.5 Bank nonperforming loans to gross loans (%) 4.1 3.0 3.7 Bank regulatory capital to risk-weighted assets (%) 12.1 10.9 12.8 Stability—Financial Markets Stock price volatility 23.3 12.9 23.5 Other Indicators—Financial Institutions Bank concentration (%) 59.4 66.6 62.7 Boone indicator –0.06 –0.05 –0.03 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 12.9 11.3 13.7 Stock market return (%, year-on-year) –20.0 19.6 –4.3 The Little Data Book on Financial Development 2014 81 French Polynesia High income Gross domestic product ($ billions) .. data Population (thousands) data 270.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 82 2014 The Little Data Book on Financial Development Sub-Saharan Africa Gabon Upper middle income Gross domestic product ($ billions) 18.8 Population (millions) 1.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 10.1 8.1 7.9 Deposit money banks’ assets to GDP (%) 13.3 10.1 11.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 7.2 6.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 10 121 131 Bank branches per 100,000 adults (age 15+) 3.6 3.9 5.8 Account at a formal financial institution (%, age 15+) .. .. 18.9 Saved at a financial institution in the past year (%, age 15+) .. .. 8.7 Loan from a financial institution in the past year (%, age 15+) .. .. 2.3 Electronic payments used to make payments (%, age 15+) .. .. 3.3 Debit card (%, age 15+) .. .. 8.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 18.7 Firms with a checking or savings account (%) .. .. 83.6 Firms with bank loan/line of credit (%) .. .. 9.0 Firms using banks to finance investments (%) .. .. 6.3 Firms using banks to finance working capital (%) .. .. 8.5 Small firms with bank loan/line of credit (%) .. .. 4.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.3 4.3 10.8 Bank lending-deposit spread 15.7 11.0 .. Bank overhead costs to total assets (%) 4.6 4.6 7.4 Bank return on assets (%, after tax) 1.7 2.6 1.6 Bank return on equity (%, after tax) 14.4 20.5 20.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 18.3 18.1 11.3 Bank nonperforming loans to gross loans (%) 8.6 10.7 5.5 Bank regulatory capital to risk-weighted assets (%) 17.2 17.8 16.4 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 97.5 92.3 Boone indicator –0.03 –0.04 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 83 Gambia, The Sub-Saharan Africa Low income Gross domestic product ($ millions) data 898.3 Population (millions) 1.7 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 17.0 10.4 13.4 Deposit money banks’ assets to GDP (%) 38.9 21.5 31.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 4.9 8.9 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. 72.8 .. Firms with bank loan/line of credit (%) .. 16.6 .. Firms using banks to finance investments (%) .. 7.6 .. Firms using banks to finance working capital (%) .. 14.3 .. Small firms with bank loan/line of credit (%) .. 8.1 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.4 10.6 7.6 Bank lending-deposit spread 11.5 17.1 16.3 Bank overhead costs to total assets (%) 5.2 8.4 8.0 Bank return on assets (%, after tax) 6.4 3.8 2.2 Bank return on equity (%, after tax) 66.8 33.2 22.9 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 6.9 7.3 5.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 87.3 88.2 Boone indicator 0.01 0.04 0.13 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 84 2014 The Little Data Book on Financial Development Europe & Central Asia Georgia Lower middle income Gross domestic product ($ billions) 14.4 Population (millions) 4.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 7.0 15.9 30.4 Deposit money banks’ assets to GDP (%) 7.4 16.6 32.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 1.7 6.6 6.8 Stock market total value traded to GDP (%) 0.1 0.9 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 6.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 386 651 Bank branches per 100,000 adults (age 15+) .. 12.1 19.6 Account at a formal financial institution (%, age 15+) .. .. 33.0 Saved at a financial institution in the past year (%, age 15+) .. .. 1.0 Loan from a financial institution in the past year (%, age 15+) .. .. 11.0 Electronic payments used to make payments (%, age 15+) .. .. 2.0 Debit card (%, age 15+) .. .. 20.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 31.9 Firms with a checking or savings account (%) .. 90.8 .. Firms with bank loan/line of credit (%) .. 41.8 .. Firms using banks to finance investments (%) 23.4 40.0 .. Firms using banks to finance working capital (%) 29.0 27.8 .. Small firms with bank loan/line of credit (%) .. 29.1 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.0 10.1 9.1 Bank lending-deposit spread 19.5 7.3 16.4 Bank overhead costs to total assets (%) 4.5 6.2 5.9 Bank return on assets (%, after tax) 2.9 3.0 0.0 Bank return on equity (%, after tax) 12.4 14.7 –0.3 Efficiency—Financial Markets Stock market turnover ratio (%) 11.6 18.6 0.2 Stability—Financial Institutions Bank Z-score 10.9 9.8 7.1 Bank nonperforming loans to gross loans (%) 11.6 0.8 4.6 Bank regulatory capital to risk-weighted assets (%) 33.1 36.0 25.6 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 94.7 77.4 96.2 Boone indicator –0.12 –0.10 –0.10 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 64.3 52.5 30.1 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 85 Germany High income data Gross domestic product ($ billions) 3,600.8 Population (millions) data 81.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 117.4 108.7 103.8 Deposit money banks’ assets to GDP (%) 146.0 133.1 126.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 61.4 49.3 37.5 Stock market total value traded to GDP (%) 65.3 73.3 45.0 Outstanding domestic private debt securities to GDP (%) 53.0 32.7 24.0 Outstanding domestic public debt securities to GDP (%) 31.3 39.6 50.1 Outstanding international debt securities to GDP (%) 49.2 82.6 79.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 16.7 15.7 Account at a formal financial institution (%, age 15+) .. .. 98.1 Saved at a financial institution in the past year (%, age 15+) .. .. 55.9 Loan from a financial institution in the past year (%, age 15+) .. .. 12.5 Electronic payments used to make payments (%, age 15+) .. .. 64.2 Debit card (%, age 15+) .. .. 88.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 96.6 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 45.0 .. Firms using banks to finance working capital (%) .. 42.2 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 38.1 58.7 49.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 57.3 57.4 54.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.1 1.0 0.8 Bank lending-deposit spread 6.5 .. .. Bank overhead costs to total assets (%) 1.6 1.2 1.3 Bank return on assets (%, after tax) 0.2 0.3 0.0 Bank return on equity (%, after tax) 5.1 10.2 0.7 Efficiency—Financial Markets Stock market turnover ratio (%) 123.0 173.7 130.3 Stability—Financial Institutions Bank Z-score 15.8 12.7 12.7 Bank nonperforming loans to gross loans (%) 4.6 3.4 3.7 Bank regulatory capital to risk-weighted assets (%) 12.0 12.5 16.4 Stability—Financial Markets Stock price volatility 23.0 13.6 20.4 Other Indicators—Financial Institutions Bank concentration (%) 71.1 71.2 78.1 Boone indicator –0.04 –0.04 –0.03 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 9.1 8.0 8.2 Stock market return (%, year-on-year) –19.2 26.3 7.2 86 2014 The Little Data Book on Financial Development Sub-Saharan Africa Ghana Lower middle income Gross domestic product ($ billions) 39.2 Population (millions) 24.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.2 9.7 13.2 Deposit money banks’ assets to GDP (%) 25.2 17.0 23.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 8.8 12.0 8.4 Stock market total value traded to GDP (%) 0.2 0.3 0.3 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 2.5 1.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 205 352 Bank branches per 100,000 adults (age 15+) .. 3.5 5.5 Account at a formal financial institution (%, age 15+) .. .. 29.4 Saved at a financial institution in the past year (%, age 15+) .. .. 16.1 Loan from a financial institution in the past year (%, age 15+) .. .. 5.8 Electronic payments used to make payments (%, age 15+) .. .. 2.9 Debit card (%, age 15+) .. .. 11.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 27.9 Firms with a checking or savings account (%) .. 83.5 .. Firms with bank loan/line of credit (%) .. 22.2 .. Firms using banks to finance investments (%) .. 16.0 .. Firms using banks to finance working capital (%) .. 21.4 .. Small firms with bank loan/line of credit (%) .. 13.0 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 14.3 13.1 9.3 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 6.5 8.7 7.4 Bank return on assets (%, after tax) 3.7 5.0 2.3 Bank return on equity (%, after tax) 51.9 43.9 17.2 Efficiency—Financial Markets Stock market turnover ratio (%) 2.8 2.1 4.1 Stability—Financial Institutions Bank Z-score 7.4 9.9 9.3 Bank nonperforming loans to gross loans (%) 19.6 7.9 14.1 Bank regulatory capital to risk-weighted assets (%) 14.7 15.8 17.4 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 86.1 41.5 Boone indicator –0.20 –0.18 –0.16 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.1 1.5 1.5 Stock market return (%, year-on-year) .. .. 8.2 The Little Data Book on Financial Development 2014 87 Greece High income Gross domestic product ($ billions) data 289.6 Population (millions) data 11.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 49.9 79.0 123.6 Deposit money banks’ assets to GDP (%) 80.0 99.0 152.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 74.4 67.5 19.0 Stock market total value traded to GDP (%) 49.9 32.9 12.1 Outstanding domestic private debt securities to GDP (%) 0.2 6.2 34.1 Outstanding domestic public debt securities to GDP (%) 64.6 49.5 53.3 Outstanding international debt securities to GDP (%) 22.2 62.3 144.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 37.4 38.7 Account at a formal financial institution (%, age 15+) .. .. 77.9 Saved at a financial institution in the past year (%, age 15+) .. .. 19.9 Loan from a financial institution in the past year (%, age 15+) .. .. 7.9 Electronic payments used to make payments (%, age 15+) .. .. 7.7 Debit card (%, age 15+) .. .. 34.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 77.7 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 25.9 .. Firms using banks to finance working capital (%) .. 26.3 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 64.5 43.5 13.8 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 54.4 44.1 40.2 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.4 3.3 2.3 Bank lending-deposit spread 5.3 .. .. Bank overhead costs to total assets (%) 4.6 2.1 1.6 Bank return on assets (%, after tax) 0.1 0.9 –9.5 Bank return on equity (%, after tax) 0.4 13.0 –52.5 Efficiency—Financial Markets Stock market turnover ratio (%) 38.7 60.9 44.9 Stability—Financial Institutions Bank Z-score 4.0 2.6 –3.3 Bank nonperforming loans to gross loans (%) 5.6 5.4 14.7 Bank regulatory capital to risk-weighted assets (%) 12.4 12.2 10.1 Stability—Financial Markets Stock price volatility 32.1 16.0 34.6 Other Indicators—Financial Institutions Bank concentration (%) 100.0 61.8 72.9 Boone indicator .. –0.10 0.09 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 30.9 28.5 24.3 Stock market return (%, year-on-year) –34.2 26.2 –31.8 88 2014 The Little Data Book on Financial Development Latin America & Caribbean Grenada Upper middle income Gross domestic product ($ millions) 780.3 Population (thousands) 105.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 62.0 60.5 80.8 Deposit money banks’ assets to GDP (%) 72.6 68.2 90.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 16.9 14.2 12.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 34.3 34.5 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 98.7 Firms with bank loan/line of credit (%) .. .. 49.0 Firms using banks to finance investments (%) .. .. 37.3 Firms using banks to finance working capital (%) .. .. 50.3 Small firms with bank loan/line of credit (%) .. .. 47.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.7 5.4 3.7 Bank lending-deposit spread 6.0 6.9 7.6 Bank overhead costs to total assets (%) 3.8 3.9 3.4 Bank return on assets (%, after tax) 2.0 2.7 0.2 Bank return on equity (%, after tax) 21.9 26.0 1.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.0 15.7 14.2 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator –0.08 –0.15 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 89 Guatemala Latin America & Caribbean Lower middle income Gross domestic product ($ billions) 47.0 data Population (millions) 14.7 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 21.1 25.1 22.6 Deposit money banks’ assets to GDP (%) 24.0 35.0 35.2 Nonbank financial institutions’ assets to GDP (%) 1.4 1.4 1.5 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.6 4.0 2.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 18.2 37.1 Account at a formal financial institution (%, age 15+) .. .. 22.3 Saved at a financial institution in the past year (%, age 15+) .. .. 10.2 Loan from a financial institution in the past year (%, age 15+) .. .. 13.7 Electronic payments used to make payments (%, age 15+) .. .. 2.6 Debit card (%, age 15+) .. .. 13.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 21.4 Firms with a checking or savings account (%) .. 87.0 61.0 Firms with bank loan/line of credit (%) .. 33.6 49.1 Firms using banks to finance investments (%) .. 12.8 26.6 Firms using banks to finance working capital (%) .. 22.8 26.2 Small firms with bank loan/line of credit (%) .. 28.1 33.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.3 5.7 7.6 Bank lending-deposit spread 10.2 8.3 8.2 Bank overhead costs to total assets (%) 5.2 3.8 4.5 Bank return on assets (%, after tax) 0.2 1.4 1.9 Bank return on equity (%, after tax) 11.3 17.7 20.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.0 14.4 18.2 Bank nonperforming loans to gross loans (%) 8.1 2.3 1.6 Bank regulatory capital to risk-weighted assets (%) 14.1 13.6 15.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 39.7 61.9 67.7 Boone indicator –0.16 –0.11 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 90 2014 The Little Data Book on Financial Development Sub-Saharan Africa Guinea Low income Gross domestic product ($ billions) 5.1 Population (millions) 11.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 4.3 6.7 Deposit money banks’ assets to GDP (%) .. 8.3 13.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 1.0 1.5 Account at a formal financial institution (%, age 15+) .. .. 3.7 Saved at a financial institution in the past year (%, age 15+) .. .. 2.0 Loan from a financial institution in the past year (%, age 15+) .. .. 2.4 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 2.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 3.6 Firms with a checking or savings account (%) .. 53.9 .. Firms with bank loan/line of credit (%) .. 6.0 .. Firms using banks to finance investments (%) .. 0.9 .. Firms using banks to finance working capital (%) .. 2.6 .. Small firms with bank loan/line of credit (%) .. 2.5 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.2 14.8 4.9 Bank lending-deposit spread 11.9 .. .. Bank overhead costs to total assets (%) 9.8 7.5 4.5 Bank return on assets (%, after tax) 2.0 5.5 2.2 Bank return on equity (%, after tax) 21.3 49.0 38.3 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 5.3 7.6 3.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator 0.00 –0.04 0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 91 Guinea-Bissau Sub-Saharan Africa Low income Gross domestic product ($ millions) data 967.8 Population (millions) 1.6 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 3.0 1.6 9.3 Deposit money banks’ assets to GDP (%) 3.0 2.7 10.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. 59.0 .. Firms with bank loan/line of credit (%) .. 2.8 .. Firms using banks to finance investments (%) .. 0.7 .. Firms using banks to finance working capital (%) .. 1.1 .. Small firms with bank loan/line of credit (%) .. 2.1 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. 8.4 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. 7.7 Bank return on assets (%, after tax) .. .. 2.7 Bank return on equity (%, after tax) .. .. 17.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 92 2014 The Little Data Book on Financial Development Latin America & Caribbean Guyana Lower middle income Gross domestic product ($ billions) 2.6 Population (thousands) 790.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 50.6 40.9 28.6 Deposit money banks’ assets to GDP (%) 70.9 72.6 45.1 Nonbank financial institutions’ assets to GDP (%) 11.6 30.4 14.4 Depth—Financial Markets Stock market capitalization to GDP (%) .. 13.0 13.8 Stock market total value traded to GDP (%) .. 0.2 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 6.3 7.6 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 50.5 Firms using banks to finance investments (%) .. .. 34.5 Firms using banks to finance working capital (%) .. .. 59.4 Small firms with bank loan/line of credit (%) .. .. 38.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.1 4.6 5.9 Bank lending-deposit spread 9.4 12.0 12.5 Bank overhead costs to total assets (%) 3.9 3.4 2.6 Bank return on assets (%, after tax) 0.5 1.6 2.1 Bank return on equity (%, after tax) 5.7 19.7 20.9 Efficiency—Financial Markets Stock market turnover ratio (%) .. 0.5 .. Stability—Financial Institutions Bank Z-score 14.9 14.9 18.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Boone indicator –0.04 –0.06 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 14.4 13.9 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 93 Haiti Latin America & Caribbean Low income Gross domestic product ($ billions) 7.3 data Population (millions) data 10.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 14.0 12.2 13.1 Deposit money banks’ assets to GDP (%) 16.0 15.3 15.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 269 338 Bank branches per 100,000 adults (age 15+) .. 3.0 2.7 Account at a formal financial institution (%, age 15+) .. .. 22.0 Saved at a financial institution in the past year (%, age 15+) .. .. 18.0 Loan from a financial institution in the past year (%, age 15+) .. .. 8.3 Electronic payments used to make payments (%, age 15+) .. .. 2.9 Debit card (%, age 15+) .. .. 2.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 21.6 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 12.8 10.0 6.7 Bank lending-deposit spread 13.8 18.6 11.3 Bank overhead costs to total assets (%) 8.4 7.4 4.5 Bank return on assets (%, after tax) 1.3 1.5 1.7 Bank return on equity (%, after tax) 20.7 23.4 24.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.2 19.9 20.1 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 94.0 Boone indicator –0.07 –0.08 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 94 2014 The Little Data Book on Financial Development Latin America & Caribbean Honduras Lower middle income Gross domestic product ($ billions) 17.4 Population (millions) 7.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 33.8 39.2 46.2 Deposit money banks’ assets to GDP (%) 34.5 41.0 50.8 Nonbank financial institutions’ assets to GDP (%) 0.9 2.8 2.3 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 19.3 21.6 Account at a formal financial institution (%, age 15+) .. .. 20.5 Saved at a financial institution in the past year (%, age 15+) .. .. 8.5 Loan from a financial institution in the past year (%, age 15+) .. .. 7.1 Electronic payments used to make payments (%, age 15+) .. .. 1.4 Debit card (%, age 15+) .. .. 11.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.9 Firms with a checking or savings account (%) .. 89.6 81.3 Firms with bank loan/line of credit (%) .. 46.9 31.2 Firms using banks to finance investments (%) .. 8.5 17.0 Firms using banks to finance working capital (%) .. 36.0 25.6 Small firms with bank loan/line of credit (%) .. 39.3 24.3 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.0 7.2 8.8 Bank lending-deposit spread 9.3 8.1 10.4 Bank overhead costs to total assets (%) 3.7 5.8 7.0 Bank return on assets (%, after tax) 0.7 1.9 1.6 Bank return on equity (%, after tax) 5.9 18.6 14.4 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 27.6 26.4 28.7 Bank nonperforming loans to gross loans (%) 10.6 4.0 2.9 Bank regulatory capital to risk-weighted assets (%) 12.3 13.5 15.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 49.6 54.0 44.3 Boone indicator –0.01 –0.07 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 95 Hong Kong SAR, China High income Gross domestic product ($ billions) data 248.7 Population (millions) 7.1 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 151.8 135.7 186.2 Deposit money banks’ assets to GDP (%) 167.6 152.8 225.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 335.8 408.8 396.9 Stock market total value traded to GDP (%) 170.1 179.6 633.3 Outstanding domestic private debt securities to GDP (%) 17.5 17.1 15.3 Outstanding domestic public debt securities to GDP (%) 9.5 9.4 36.0 Outstanding international debt securities to GDP (%) .. 32.0 35.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 23.0 23.8 Account at a formal financial institution (%, age 15+) .. .. 88.7 Saved at a financial institution in the past year (%, age 15+) .. .. 42.8 Loan from a financial institution in the past year (%, age 15+) .. .. 7.9 Electronic payments used to make payments (%, age 15+) .. .. 51.2 Debit card (%, age 15+) .. .. 75.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 84.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 55.3 64.7 69.5 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 35.9 53.1 62.7 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.6 2.2 2.2 Bank lending-deposit spread 2.7 5.1 5.0 Bank overhead costs to total assets (%) 1.0 0.8 3.9 Bank return on assets (%, after tax) 0.2 1.7 1.2 Bank return on equity (%, after tax) 3.4 25.6 17.0 Efficiency—Financial Markets Stock market turnover ratio (%) 34.5 51.0 157.2 Stability—Financial Institutions Bank Z-score 18.9 13.8 11.4 Bank nonperforming loans to gross loans (%) 6.5 1.1 0.7 Bank regulatory capital to risk-weighted assets (%) 16.5 14.9 15.8 Stability—Financial Markets Stock price volatility 29.2 12.8 19.6 Other Indicators—Financial Institutions Bank concentration (%) 56.2 67.2 72.1 Boone indicator –0.27 0.09 0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 127.6 148.9 208.2 Stock market return (%, year-on-year) –21.8 17.6 –0.6 96 2014 The Little Data Book on Financial Development Europe & Central Asia Hungary Upper middle income Gross domestic product ($ billions) 138.7 Population (millions) 10.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 31.2 51.7 .. Deposit money banks’ assets to GDP (%) 40.7 63.8 16.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 21.5 32.2 17.1 Stock market total value traded to GDP (%) 16.5 23.8 16.9 Outstanding domestic private debt securities to GDP (%) .. 6.2 5.9 Outstanding domestic public debt securities to GDP (%) 36.0 41.6 43.6 Outstanding international debt securities to GDP (%) 19.4 19.8 26.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 16.1 15.7 Account at a formal financial institution (%, age 15+) .. .. 72.7 Saved at a financial institution in the past year (%, age 15+) .. .. 17.3 Loan from a financial institution in the past year (%, age 15+) .. .. 9.4 Electronic payments used to make payments (%, age 15+) .. .. 28.7 Debit card (%, age 15+) .. .. 62.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 68.4 Firms with a checking or savings account (%) .. .. 97.7 Firms with bank loan/line of credit (%) .. .. 43.0 Firms using banks to finance investments (%) 22.6 32.8 48.7 Firms using banks to finance working capital (%) 27.6 41.8 .. Small firms with bank loan/line of credit (%) .. .. 39.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 5.7 2.0 2.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 10.9 4.1 4.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. 0.9 Efficiency—Financial Institutions Bank net interest margin (%) 4.3 5.2 3.3 Bank lending-deposit spread 3.7 0.6 2.1 Bank overhead costs to total assets (%) 4.1 6.8 2.6 Bank return on assets (%, after tax) 1.8 2.8 0.1 Bank return on equity (%, after tax) 21.4 26.0 1.3 Efficiency—Financial Markets Stock market turnover ratio (%) 42.5 86.0 82.0 Stability—Financial Institutions Bank Z-score 11.0 14.8 11.9 Bank nonperforming loans to gross loans (%) 3.6 2.6 13.3 Bank regulatory capital to risk-weighted assets (%) 13.8 11.0 14.2 Stability—Financial Markets Stock price volatility 25.9 24.1 26.1 Other Indicators—Financial Institutions Bank concentration (%) 68.1 76.4 80.1 Boone indicator –0.12 –0.09 –0.04 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.6 4.1 5.2 Stock market return (%, year-on-year) –21.1 18.2 –8.8 The Little Data Book on Financial Development 2014 97 Iceland High income Gross domestic product ($ billions) 14.1 data Population (thousands) data 319.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 93.3 269.3 100.5 Deposit money banks’ assets to GDP (%) 94.5 270.0 117.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 49.0 184.3 14.7 Stock market total value traded to GDP (%) 20.9 140.6 2.6 Outstanding domestic private debt securities to GDP (%) 60.9 285.3 66.9 Outstanding domestic public debt securities to GDP (%) 12.9 11.8 52.2 Outstanding international debt securities to GDP (%) 108.0 291.1 281.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 77.4 52.4 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) 5.7 22.1 7.0 Efficiency—Financial Institutions Bank net interest margin (%) 3.2 2.2 5.9 Bank lending-deposit spread 7.1 7.2 .. Bank overhead costs to total assets (%) 2.3 1.2 1.9 Bank return on assets (%, after tax) 0.7 7.0 7.6 Bank return on equity (%, after tax) 12.5 61.1 5.3 Efficiency—Financial Markets Stock market turnover ratio (%) 34.9 102.2 27.5 Stability—Financial Institutions Bank Z-score 0.2 0.7 –1.7 Bank nonperforming loans to gross loans (%) 1.2 0.8 38.8 Bank regulatory capital to risk-weighted assets (%) 11.4 15.1 24.0 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Boone indicator –0.02 –0.09 –0.12 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 214.1 79.0 25.1 Stock market return (%, year-on-year) .. .. .. 98 2014 The Little Data Book on Financial Development South Asia India Lower middle income Gross domestic product ($ billions) 1,872.8 Population (millions) 1,221.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 27.8 38.5 47.1 Deposit money banks’ assets to GDP (%) 44.0 55.3 65.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 25.7 71.2 68.7 Stock market total value traded to GDP (%) 75.5 55.7 46.9 Outstanding domestic private debt securities to GDP (%) 0.4 1.7 4.9 Outstanding domestic public debt securities to GDP (%) 23.8 29.8 29.6 Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 631 .. Bank branches per 100,000 adults (age 15+) .. 8.9 10.6 Account at a formal financial institution (%, age 15+) .. .. 35.2 Saved at a financial institution in the past year (%, age 15+) .. .. 11.6 Loan from a financial institution in the past year (%, age 15+) .. .. 7.7 Electronic payments used to make payments (%, age 15+) .. .. 2.0 Debit card (%, age 15+) .. .. 8.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 32.8 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 46.6 .. Firms using banks to finance working capital (%) .. 36.4 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 36.8 76.5 76.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 58.9 66.8 68.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.0 3.3 3.1 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 2.3 2.2 1.7 Bank return on assets (%, after tax) 0.7 1.0 1.0 Bank return on equity (%, after tax) 14.9 16.5 14.0 Efficiency—Financial Markets Stock market turnover ratio (%) 197.1 94.4 57.6 Stability—Financial Institutions Bank Z-score 27.8 35.4 40.2 Bank nonperforming loans to gross loans (%) 11.4 3.5 2.3 Bank regulatory capital to risk-weighted assets (%) 11.4 12.3 14.2 Stability—Financial Markets Stock price volatility 31.8 20.9 17.9 Other Indicators—Financial Institutions Bank concentration (%) 35.7 32.9 28.9 Boone indicator –0.07 –0.06 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.5 4.2 4.2 Stock market return (%, year-on-year) –24.3 54.7 –2.4 The Little Data Book on Financial Development 2014 99 Indonesia East Asia & Pacific Lower middle income Gross domestic product ($ billions) data 846.3 Population (millions) data 243.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 17.2 22.5 25.4 Deposit money banks’ assets to GDP (%) 44.0 32.7 30.0 Nonbank financial institutions’ assets to GDP (%) .. .. 5.8 Depth—Financial Markets Stock market capitalization to GDP (%) 14.0 30.7 45.0 Stock market total value traded to GDP (%) 6.7 12.8 16.2 Outstanding domestic private debt securities to GDP (%) 1.2 2.0 1.4 Outstanding domestic public debt securities to GDP (%) 27.7 16.3 10.8 Outstanding international debt securities to GDP (%) 5.4 4.3 4.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 5.6 8.5 Account at a formal financial institution (%, age 15+) .. .. 19.6 Saved at a financial institution in the past year (%, age 15+) .. .. 15.3 Loan from a financial institution in the past year (%, age 15+) .. .. 8.5 Electronic payments used to make payments (%, age 15+) .. .. 3.1 Debit card (%, age 15+) .. .. 10.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.5 Firms with a checking or savings account (%) .. .. 51.5 Firms with bank loan/line of credit (%) .. .. 18.2 Firms using banks to finance investments (%) .. .. 11.7 Firms using banks to finance working capital (%) .. .. 13.8 Small firms with bank loan/line of credit (%) .. .. 16.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 32.6 45.3 55.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 45.8 46.5 55.7 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 4.0 4.6 Efficiency—Financial Institutions Bank net interest margin (%) 3.9 6.2 6.4 Bank lending-deposit spread 3.1 4.6 5.5 Bank overhead costs to total assets (%) 2.4 3.3 3.4 Bank return on assets (%, after tax) 0.4 1.7 2.3 Bank return on equity (%, after tax) 18.3 16.9 20.1 Efficiency—Financial Markets Stock market turnover ratio (%) 43.0 43.7 36.6 Stability—Financial Institutions Bank Z-score 1.2 2.6 3.0 Bank nonperforming loans to gross loans (%) 31.9 6.1 2.2 Bank regulatory capital to risk-weighted assets (%) 18.2 21.3 16.1 Stability—Financial Markets Stock price volatility 24.4 20.0 20.7 Other Indicators—Financial Institutions Bank concentration (%) 62.6 47.3 44.0 Boone indicator –0.03 –0.04 –0.02 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.5 1.5 1.8 Stock market return (%, year-on-year) –20.3 30.4 21.9 100 2014 The Little Data Book on Financial Development Middle East & North Africa Iran, Islamic Rep. Upper middle income Gross domestic product ($ billions) 514.1 Population (millions) 75.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 19.9 26.9 21.1 Deposit money banks’ assets to GDP (%) 20.8 28.1 23.2 Nonbank financial institutions’ assets to GDP (%) 9.0 10.0 14.2 Depth—Financial Markets Stock market capitalization to GDP (%) 7.3 17.1 15.3 Stock market total value traded to GDP (%) 0.9 3.0 4.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 0.9 0.6 .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 27.5 29.5 Account at a formal financial institution (%, age 15+) .. .. 73.7 Saved at a financial institution in the past year (%, age 15+) .. .. 19.7 Loan from a financial institution in the past year (%, age 15+) .. .. 30.7 Electronic payments used to make payments (%, age 15+) .. .. 32.9 Debit card (%, age 15+) .. .. 58.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 62.7 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.2 60.0 76.1 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 62.8 60.0 60.7 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. 2.4 0.1 Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) 13.0 12.8 30.7 Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.7 4.7 4.6 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 101 Iraq Middle East & North Africa Upper middle income Gross domestic product ($ billions) data 180.6 Population (millions) data 31.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 2.2 7.1 Deposit money banks’ assets to GDP (%) .. 4.4 13.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 3.4 5.1 Account at a formal financial institution (%, age 15+) .. .. 10.6 Saved at a financial institution in the past year (%, age 15+) .. .. 5.4 Loan from a financial institution in the past year (%, age 15+) .. .. 8.0 Electronic payments used to make payments (%, age 15+) .. .. 1.0 Debit card (%, age 15+) .. .. 3.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 10.3 Firms with a checking or savings account (%) .. .. 43.2 Firms with bank loan/line of credit (%) .. .. 3.8 Firms using banks to finance investments (%) .. .. 2.7 Firms using banks to finance working capital (%) .. .. 4.6 Small firms with bank loan/line of credit (%) .. .. 2.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.3 9.5 4.2 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 0.4 1.7 2.5 Bank return on assets (%, after tax) 1.5 2.6 3.3 Bank return on equity (%, after tax) 128.0 12.9 13.9 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 2.2 19.4 25.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 87.0 Boone indicator .. 0.01 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 102 2014 The Little Data Book on Financial Development Ireland High income Gross domestic product ($ billions) 220.8 Population (millions) 4.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 101.7 163.9 209.0 Deposit money banks’ assets to GDP (%) 106.3 166.4 236.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 73.7 62.4 39.3 Stock market total value traded to GDP (%) 17.3 32.6 7.7 Outstanding domestic private debt securities to GDP (%) 9.4 96.5 113.5 Outstanding domestic public debt securities to GDP (%) 18.4 17.6 29.4 Outstanding international debt securities to GDP (%) 34.9 89.2 237.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 34.0 27.7 Account at a formal financial institution (%, age 15+) .. .. 93.9 Saved at a financial institution in the past year (%, age 15+) .. .. 51.3 Loan from a financial institution in the past year (%, age 15+) .. .. 15.7 Electronic payments used to make payments (%, age 15+) .. .. 61.5 Debit card (%, age 15+) .. .. 70.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 92.4 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 37.4 .. Firms using banks to finance working capital (%) .. 46.1 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 16.8 16.4 11.0 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 13.7 19.4 12.0 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.3 1.0 1.4 Bank lending-deposit spread 4.7 2.6 .. Bank overhead costs to total assets (%) 0.1 0.5 0.7 Bank return on assets (%, after tax) 0.2 0.9 –1.2 Bank return on equity (%, after tax) 6.9 24.7 –19.9 Efficiency—Financial Markets Stock market turnover ratio (%) 29.0 57.4 18.0 Stability—Financial Institutions Bank Z-score 1.8 2.7 4.1 Bank nonperforming loans to gross loans (%) 1.0 0.7 14.7 Bank regulatory capital to risk-weighted assets (%) 13.2 10.9 19.2 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 86.4 66.5 71.2 Boone indicator –0.01 –0.01 –0.03 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 17.6 13.4 10.5 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 103 Isle of Man High income Gross domestic product ($ billions) .. data Population (thousands) data 84.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 104 2014 The Little Data Book on Financial Development Israel High income Gross domestic product ($ billions) 242.9 Population (millions) 7.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 80.8 85.8 92.5 Deposit money banks’ assets to GDP (%) 89.4 95.5 102.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 53.9 102.0 77.4 Stock market total value traded to GDP (%) 21.4 51.7 50.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 7.8 12.3 11.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,026 1,142 Bank branches per 100,000 adults (age 15+) .. 19.4 20.4 Account at a formal financial institution (%, age 15+) .. .. 90.5 Saved at a financial institution in the past year (%, age 15+) .. .. 24.8 Loan from a financial institution in the past year (%, age 15+) .. .. 16.7 Electronic payments used to make payments (%, age 15+) .. .. 54.4 Debit card (%, age 15+) .. .. 7.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 90.3 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 45.8 50.7 44.4 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 57.6 60.7 45.5 Nonfin. corporate bonds to total bonds and notes outstanding (%) 4.9 17.1 21.6 Efficiency—Financial Institutions Bank net interest margin (%) 2.2 2.7 2.5 Bank lending-deposit spread 3.9 3.1 3.0 Bank overhead costs to total assets (%) 2.1 2.6 2.2 Bank return on assets (%, after tax) 0.3 1.0 0.7 Bank return on equity (%, after tax) 5.1 15.8 10.0 Efficiency—Financial Markets Stock market turnover ratio (%) 44.9 59.8 56.1 Stability—Financial Institutions Bank Z-score 20.6 25.6 24.8 Bank nonperforming loans to gross loans (%) 2.4 2.0 2.5 Bank regulatory capital to risk-weighted assets (%) 9.4 10.8 13.6 Stability—Financial Markets Stock price volatility 24.4 16.2 17.7 Other Indicators—Financial Institutions Bank concentration (%) 71.8 76.7 79.9 Boone indicator –0.03 –0.05 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 98.8 86.8 74.2 Stock market return (%, year-on-year) –21.0 21.6 –0.6 The Little Data Book on Financial Development 2014 105 Italy High income data Gross domestic product ($ billions) 2,192.4 Population (millions) data 60.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 74.5 89.7 121.8 Deposit money banks’ assets to GDP (%) 91.0 104.5 153.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 57.0 49.1 17.5 Stock market total value traded to GDP (%) 58.5 66.8 33.2 Outstanding domestic private debt securities to GDP (%) 26.7 27.4 37.8 Outstanding domestic public debt securities to GDP (%) 83.9 77.1 91.2 Outstanding international debt securities to GDP (%) 26.8 45.9 63.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 756 .. Bank branches per 100,000 adults (age 15+) .. 65.4 66.3 Account at a formal financial institution (%, age 15+) .. .. 71.0 Saved at a financial institution in the past year (%, age 15+) .. .. 15.5 Loan from a financial institution in the past year (%, age 15+) .. .. 4.6 Electronic payments used to make payments (%, age 15+) .. .. 27.8 Debit card (%, age 15+) .. .. 35.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 69.2 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 39.1 39.0 21.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 43.9 45.5 38.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.2 2.2 1.4 Bank lending-deposit spread 5.3 .. .. Bank overhead costs to total assets (%) 1.9 2.1 1.7 Bank return on assets (%, after tax) 0.4 1.0 –1.1 Bank return on equity (%, after tax) 6.5 12.3 –11.3 Efficiency—Financial Markets Stock market turnover ratio (%) 86.2 148.5 231.3 Stability—Financial Institutions Bank Z-score 8.9 11.6 9.4 Bank nonperforming loans to gross loans (%) 6.7 6.6 11.0 Bank regulatory capital to risk-weighted assets (%) 10.4 10.1 12.8 Stability—Financial Markets Stock price volatility 21.8 11.9 26.2 Other Indicators—Financial Institutions Bank concentration (%) 66.7 36.7 63.1 Boone indicator –0.03 –0.04 –0.01 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.1 4.8 4.7 Stock market return (%, year-on-year) –20.4 15.3 –11.5 106 2014 The Little Data Book on Financial Development Latin America & Caribbean Jamaica Upper middle income Gross domestic product ($ billions) 14.4 Population (millions) 2.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 18.5 21.1 25.6 Deposit money banks’ assets to GDP (%) 38.6 40.7 40.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 44.0 103.5 47.9 Stock market total value traded to GDP (%) 0.8 3.0 1.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 13.4 27.7 53.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 6.7 6.2 Account at a formal financial institution (%, age 15+) .. .. 71.0 Saved at a financial institution in the past year (%, age 15+) .. .. 30.4 Loan from a financial institution in the past year (%, age 15+) .. .. 7.9 Electronic payments used to make payments (%, age 15+) .. .. 7.2 Debit card (%, age 15+) .. .. 41.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 60.4 Firms with a checking or savings account (%) .. .. 99.8 Firms with bank loan/line of credit (%) .. .. 27.2 Firms using banks to finance investments (%) .. .. 44.2 Firms using banks to finance working capital (%) .. .. 53.1 Small firms with bank loan/line of credit (%) .. .. 25.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.3 7.4 12.1 Bank lending-deposit spread 11.0 10.6 15.6 Bank overhead costs to total assets (%) 18.0 5.7 6.9 Bank return on assets (%, after tax) 21.1 2.6 4.1 Bank return on equity (%, after tax) 58.2 20.4 26.7 Efficiency—Financial Markets Stock market turnover ratio (%) 1.9 2.4 3.1 Stability—Financial Institutions Bank Z-score 11.1 2.7 3.9 Bank nonperforming loans to gross loans (%) 11.0 .. .. Bank regulatory capital to risk-weighted assets (%) 25.6 .. .. Stability—Financial Markets Stock price volatility 13.6 11.0 9.0 Other Indicators—Financial Institutions Bank concentration (%) 82.8 79.9 81.2 Boone indicator –0.11 –0.09 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 16.1 15.4 13.7 Stock market return (%, year-on-year) 9.3 –18.1 7.3 The Little Data Book on Financial Development 2014 107 Japan High income data Gross domestic product ($ billions) 5,896.8 Population (millions) data 127.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 151.8 99.6 105.2 Deposit money banks’ assets to GDP (%) 195.4 157.1 188.3 Nonbank financial institutions’ assets to GDP (%) 173.9 286.3 249.9 Depth—Financial Markets Stock market capitalization to GDP (%) 60.7 106.0 68.6 Stock market total value traded to GDP (%) 50.6 126.3 75.5 Outstanding domestic private debt securities to GDP (%) 44.4 38.3 37.2 Outstanding domestic public debt securities to GDP (%) 82.2 149.5 218.9 Outstanding international debt securities to GDP (%) 6.1 6.7 7.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 34.1 34.0 Account at a formal financial institution (%, age 15+) .. .. 96.4 Saved at a financial institution in the past year (%, age 15+) .. .. 51.3 Loan from a financial institution in the past year (%, age 15+) .. .. 6.1 Electronic payments used to make payments (%, age 15+) .. .. 44.8 Debit card (%, age 15+) .. .. 13.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 92.1 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 65.2 63.2 61.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 76.5 67.7 70.3 Nonfin. corporate bonds to total bonds and notes outstanding (%) 13.7 6.3 6.1 Efficiency—Financial Institutions Bank net interest margin (%) 1.3 1.2 1.0 Bank lending-deposit spread 1.9 1.0 1.0 Bank overhead costs to total assets (%) 0.8 0.9 0.8 Bank return on assets (%, after tax) –0.7 0.4 0.3 Bank return on equity (%, after tax) –15.5 8.3 5.6 Efficiency—Financial Markets Stock market turnover ratio (%) 72.4 135.5 102.9 Stability—Financial Institutions Bank Z-score 8.5 14.7 13.3 Bank nonperforming loans to gross loans (%) 8.4 1.8 2.4 Bank regulatory capital to risk-weighted assets (%) 10.8 12.5 13.8 Stability—Financial Markets Stock price volatility 22.3 16.3 20.7 Other Indicators—Financial Institutions Bank concentration (%) 38.5 38.3 43.9 Boone indicator 0.00 –0.02 –0.02 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 19.4 26.3 31.0 Stock market return (%, year-on-year) –22.7 28.0 –7.3 108 2014 The Little Data Book on Financial Development Middle East & North Africa Jordan Upper middle income Gross domestic product ($ billions) 28.8 Population (millions) 6.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 71.9 82.3 69.7 Deposit money banks’ assets to GDP (%) 89.5 101.8 101.4 Nonbank financial institutions’ assets to GDP (%) 5.9 .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 62.8 224.9 100.1 Stock market total value traded to GDP (%) 7.5 146.2 23.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 8.9 1.0 3.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 18.0 21.1 Account at a formal financial institution (%, age 15+) .. .. 25.5 Saved at a financial institution in the past year (%, age 15+) .. .. 8.3 Loan from a financial institution in the past year (%, age 15+) .. .. 4.5 Electronic payments used to make payments (%, age 15+) .. .. 3.4 Debit card (%, age 15+) .. .. 14.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 24.7 Firms with a checking or savings account (%) .. 94.2 .. Firms with bank loan/line of credit (%) .. 25.5 .. Firms using banks to finance investments (%) .. 8.6 .. Firms using banks to finance working capital (%) .. 18.3 .. Small firms with bank loan/line of credit (%) .. 15.8 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. 40.8 56.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. 34.6 28.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.6 3.4 3.2 Bank lending-deposit spread 5.1 3.6 5.3 Bank overhead costs to total assets (%) 1.7 1.8 1.7 Bank return on assets (%, after tax) 0.9 1.7 1.1 Bank return on equity (%, after tax) 11.7 11.6 7.4 Efficiency—Financial Markets Stock market turnover ratio (%) 16.5 59.2 13.9 Stability—Financial Institutions Bank Z-score 24.7 51.0 44.6 Bank nonperforming loans to gross loans (%) 19.3 4.3 8.5 Bank regulatory capital to risk-weighted assets (%) 17.5 21.4 18.2 Stability—Financial Markets Stock price volatility 7.8 24.7 9.9 Other Indicators—Financial Institutions Bank concentration (%) 92.6 94.7 88.2 Boone indicator –0.06 –0.07 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 32.7 41.0 40.0 Stock market return (%, year-on-year) 3.9 –13.2 –11.2 The Little Data Book on Financial Development 2014 109 Kazakhstan Europe & Central Asia Upper middle income Gross domestic product ($ billions) data 188.0 Population (millions) data 16.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 12.7 36.9 34.9 Deposit money banks’ assets to GDP (%) 15.1 38.5 40.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 5.7 33.3 28.5 Stock market total value traded to GDP (%) 0.4 3.1 0.9 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 8.3 17.8 .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 883 1,039 Bank branches per 100,000 adults (age 15+) .. 3.1 3.4 Account at a formal financial institution (%, age 15+) .. .. 42.1 Saved at a financial institution in the past year (%, age 15+) .. .. 6.7 Loan from a financial institution in the past year (%, age 15+) .. .. 13.1 Electronic payments used to make payments (%, age 15+) .. .. 4.5 Debit card (%, age 15+) .. .. 31.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 40.6 Firms with a checking or savings account (%) .. .. 92.1 Firms with bank loan/line of credit (%) .. .. 33.2 Firms using banks to finance investments (%) 16.4 33.9 31.0 Firms using banks to finance working capital (%) 21.1 34.3 .. Small firms with bank loan/line of credit (%) .. .. 18.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.6 4.2 5.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 5.0 2.5 3.4 Bank return on assets (%, after tax) 3.1 1.4 –1.9 Bank return on equity (%, after tax) 20.8 14.5 7.0 Efficiency—Financial Markets Stock market turnover ratio (%) 6.0 14.8 2.0 Stability—Financial Institutions Bank Z-score 1.1 0.6 0.2 Bank nonperforming loans to gross loans (%) .. 5.1 30.8 Bank regulatory capital to risk-weighted assets (%) 18.6 14.8 17.4 Stability—Financial Markets Stock price volatility 39.5 55.3 23.9 Other Indicators—Financial Institutions Bank concentration (%) 73.8 66.6 52.6 Boone indicator –0.08 –0.09 –0.04 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.1 4.4 3.8 Stock market return (%, year-on-year) –2.2 378.8 –9.3 110 2014 The Little Data Book on Financial Development Sub-Saharan Africa Kenya Low income Gross domestic product ($ billions) 33.6 Population (millions) 42.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 24.9 25.3 33.6 Deposit money banks’ assets to GDP (%) 33.7 35.7 48.5 Nonbank financial institutions’ assets to GDP (%) 3.1 1.8 .. Depth—Financial Markets Stock market capitalization to GDP (%) 8.9 41.1 35.3 Stock market total value traded to GDP (%) 0.3 4.1 2.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 140 652 Bank branches per 100,000 adults (age 15+) .. 2.7 5.2 Account at a formal financial institution (%, age 15+) .. .. 42.3 Saved at a financial institution in the past year (%, age 15+) .. .. 23.3 Loan from a financial institution in the past year (%, age 15+) .. .. 9.7 Electronic payments used to make payments (%, age 15+) .. .. 5.4 Debit card (%, age 15+) .. .. 29.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 40.5 Firms with a checking or savings account (%) .. 89.1 .. Firms with bank loan/line of credit (%) .. 25.4 .. Firms using banks to finance investments (%) .. 22.9 .. Firms using banks to finance working capital (%) .. 26.0 .. Small firms with bank loan/line of credit (%) .. 17.6 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.9 8.4 8.3 Bank lending-deposit spread 13.0 8.5 9.4 Bank overhead costs to total assets (%) 9.6 6.5 5.8 Bank return on assets (%, after tax) 2.1 3.0 3.5 Bank return on equity (%, after tax) 19.9 23.4 23.1 Efficiency—Financial Markets Stock market turnover ratio (%) 3.4 14.1 7.4 Stability—Financial Institutions Bank Z-score 9.9 12.8 14.1 Bank nonperforming loans to gross loans (%) 13.1 10.6 4.4 Bank regulatory capital to risk-weighted assets (%) 13.2 17.0 19.4 Stability—Financial Markets Stock price volatility .. .. 10.9 Other Indicators—Financial Institutions Bank concentration (%) 65.2 49.6 39.9 Boone indicator –0.06 –0.08 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.8 1.4 1.4 Stock market return (%, year-on-year) .. .. –7.9 The Little Data Book on Financial Development 2014 111 Kiribati East Asia & Pacific Lower middle income Gross domestic product ($ millions) data 166.7 Population (thousands) data 99.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. 4.0 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 112 2014 The Little Data Book on Financial Development Korea, Dem. People’s Rep. East Asia & Pacific Low income Gross domestic product ($ millions) .. Population (millions) 24.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 3.0 .. .. Bank return on assets (%, after tax) 1.0 .. .. Bank return on equity (%, after tax) 10.3 .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 113 Korea, Rep. High income data Gross domestic product ($ billions) 1,114.5 Population (millions) data 49.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 75.8 88.4 98.4 Deposit money banks’ assets to GDP (%) 80.5 95.6 105.7 Nonbank financial institutions’ assets to GDP (%) 8.9 7.7 .. Depth—Financial Markets Stock market capitalization to GDP (%) 37.0 84.9 96.2 Stock market total value traded to GDP (%) 164.5 139.1 168.0 Outstanding domestic private debt securities to GDP (%) 54.0 52.1 59.3 Outstanding domestic public debt securities to GDP (%) 22.9 46.1 44.8 Outstanding international debt securities to GDP (%) 9.1 9.7 14.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 17.9 18.8 Account at a formal financial institution (%, age 15+) .. .. 93.0 Saved at a financial institution in the past year (%, age 15+) .. .. 46.9 Loan from a financial institution in the past year (%, age 15+) .. .. 16.6 Electronic payments used to make payments (%, age 15+) .. .. 64.8 Debit card (%, age 15+) .. .. 57.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 89.2 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 39.9 .. Firms using banks to finance working capital (%) .. 41.2 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 62.5 73.5 78.6 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 43.6 61.7 66.6 Nonfin. corporate bonds to total bonds and notes outstanding (%) 49.9 25.8 36.2 Efficiency—Financial Institutions Bank net interest margin (%) 1.5 0.5 2.6 Bank lending-deposit spread 1.9 1.5 1.6 Bank overhead costs to total assets (%) 1.0 0.4 1.2 Bank return on assets (%, after tax) 0.4 0.1 0.9 Bank return on equity (%, after tax) 8.8 1.6 11.3 Efficiency—Financial Markets Stock market turnover ratio (%) 377.2 165.9 189.5 Stability—Financial Institutions Bank Z-score 7.6 5.7 11.7 Bank nonperforming loans to gross loans (%) 3.4 0.8 1.4 Bank regulatory capital to risk-weighted assets (%) 11.7 12.8 14.0 Stability—Financial Markets Stock price volatility 41.9 18.4 18.0 Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 50.6 Boone indicator 0.07 0.05 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 29.8 35.0 36.0 Stock market return (%, year-on-year) –22.0 26.0 12.4 114 2014 The Little Data Book on Financial Development Europe & Central Asia Kosovo Lower middle income Gross domestic product ($ billions) 6.5 Population (millions) 1.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 5.3 18.3 33.8 Deposit money banks’ assets to GDP (%) 5.3 18.3 33.9 Nonbank financial institutions’ assets to GDP (%) .. 3.5 4.9 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 44.3 Saved at a financial institution in the past year (%, age 15+) .. .. 4.9 Loan from a financial institution in the past year (%, age 15+) .. .. 6.1 Electronic payments used to make payments (%, age 15+) .. .. 5.9 Debit card (%, age 15+) .. .. 29.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 41.8 Firms with a checking or savings account (%) .. .. 96.6 Firms with bank loan/line of credit (%) .. .. 15.0 Firms using banks to finance investments (%) .. .. 25.3 Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. 12.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 115 Kuwait High income Gross domestic product ($ billions) data 176.6 Population (millions) 3.1 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 52.4 45.4 51.7 Deposit money banks’ assets to GDP (%) 85.0 53.2 55.6 Nonbank financial institutions’ assets to GDP (%) 9.3 13.4 6.3 Depth—Financial Markets Stock market capitalization to GDP (%) 62.4 126.6 63.6 Stock market total value traded to GDP (%) 22.1 73.6 18.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,301 1,494 Bank branches per 100,000 adults (age 15+) .. 14.6 19.4 Account at a formal financial institution (%, age 15+) .. .. 86.8 Saved at a financial institution in the past year (%, age 15+) .. .. 40.3 Loan from a financial institution in the past year (%, age 15+) .. .. 20.8 Electronic payments used to make payments (%, age 15+) .. .. 21.9 Debit card (%, age 15+) .. .. 83.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 86.7 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.6 3.6 3.1 Bank lending-deposit spread 3.4 3.7 3.0 Bank overhead costs to total assets (%) 1.1 1.2 1.2 Bank return on assets (%, after tax) 2.1 3.3 1.5 Bank return on equity (%, after tax) 18.6 25.5 10.2 Efficiency—Financial Markets Stock market turnover ratio (%) 52.6 43.5 19.0 Stability—Financial Institutions Bank Z-score 15.4 18.9 19.1 Bank nonperforming loans to gross loans (%) 10.3 4.6 8.9 Bank regulatory capital to risk-weighted assets (%) 22.0 20.2 18.9 Stability—Financial Markets Stock price volatility .. 19.2 10.1 Other Indicators—Financial Institutions Bank concentration (%) 68.2 69.4 88.9 Boone indicator –0.09 –0.09 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 39.4 67.4 65.9 Stock market return (%, year-on-year) 19.9 13.9 –10.9 116 2014 The Little Data Book on Financial Development Europe & Central Asia Kyrgyz Republic Low income Gross domestic product ($ billions) 6.2 Population (millions) 5.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 3.7 8.7 .. Deposit money banks’ assets to GDP (%) 4.2 9.7 .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 0.3 2.4 2.0 Stock market total value traded to GDP (%) 1.4 2.0 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 155 Bank branches per 100,000 adults (age 15+) .. 5.3 7.3 Account at a formal financial institution (%, age 15+) .. .. 3.8 Saved at a financial institution in the past year (%, age 15+) .. .. 0.9 Loan from a financial institution in the past year (%, age 15+) .. .. 11.3 Electronic payments used to make payments (%, age 15+) .. .. 0.6 Debit card (%, age 15+) .. .. 1.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 3.6 Firms with a checking or savings account (%) .. .. 68.9 Firms with bank loan/line of credit (%) .. .. 20.4 Firms using banks to finance investments (%) 9.0 13.6 17.9 Firms using banks to finance working capital (%) 11.2 23.6 .. Small firms with bank loan/line of credit (%) .. .. 13.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.7 5.1 11.1 Bank lending-deposit spread 24.8 17.6 33.8 Bank overhead costs to total assets (%) 10.8 4.2 5.3 Bank return on assets (%, after tax) 3.6 2.6 4.6 Bank return on equity (%, after tax) 15.2 15.9 28.4 Efficiency—Financial Markets Stock market turnover ratio (%) 483.2 147.7 2.6 Stability—Financial Institutions Bank Z-score 31.9 21.8 24.3 Bank nonperforming loans to gross loans (%) .. 6.2 10.2 Bank regulatory capital to risk-weighted assets (%) .. 28.5 30.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 79.6 86.3 100.0 Boone indicator 0.13 –0.03 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 10.9 1.5 6.2 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 117 Lao PDR East Asia & Pacific Lower middle income Gross domestic product ($ billions) 8.2 data Population (millions) 6.5 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 7.8 5.7 19.9 Deposit money banks’ assets to GDP (%) 10.6 8.5 22.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 43 Bank branches per 100,000 adults (age 15+) .. 1.6 2.5 Account at a formal financial institution (%, age 15+) .. .. 26.8 Saved at a financial institution in the past year (%, age 15+) .. .. 19.4 Loan from a financial institution in the past year (%, age 15+) .. .. 18.1 Electronic payments used to make payments (%, age 15+) .. .. 0.3 Debit card (%, age 15+) .. .. 6.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 21.3 Firms with a checking or savings account (%) .. .. 91.8 Firms with bank loan/line of credit (%) .. .. 18.5 Firms using banks to finance investments (%) .. .. 0.0 Firms using banks to finance working capital (%) .. .. 10.7 Small firms with bank loan/line of credit (%) .. .. 15.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 3.8 3.8 Bank lending-deposit spread 19.7 25.0 19.6 Bank overhead costs to total assets (%) 1.7 1.5 3.2 Bank return on assets (%, after tax) 3.8 5.3 1.2 Bank return on equity (%, after tax) .. 1.3 18.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score –21.2 2.6 4.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 96.4 Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 118 2014 The Little Data Book on Financial Development Latvia High income Gross domestic product ($ billions) 28.5 Population (millions) 2.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 22.2 71.5 .. Deposit money banks’ assets to GDP (%) 27.3 75.5 3.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 7.5 13.2 4.3 Stock market total value traded to GDP (%) 2.3 0.5 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 3.5 5.1 4.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,022 1,168 Bank branches per 100,000 adults (age 15+) .. 32.2 30.0 Account at a formal financial institution (%, age 15+) .. .. 89.7 Saved at a financial institution in the past year (%, age 15+) .. .. 13.3 Loan from a financial institution in the past year (%, age 15+) .. .. 6.8 Electronic payments used to make payments (%, age 15+) .. .. 52.7 Debit card (%, age 15+) .. .. 77.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 86.2 Firms with a checking or savings account (%) .. .. 99.5 Firms with bank loan/line of credit (%) .. .. 48.5 Firms using banks to finance investments (%) 30.0 27.9 37.3 Firms using banks to finance working capital (%) 26.1 45.2 .. Small firms with bank loan/line of credit (%) .. .. 40.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.8 3.2 2.1 Bank lending-deposit spread 5.9 3.8 5.9 Bank overhead costs to total assets (%) 4.3 2.4 1.8 Bank return on assets (%, after tax) 1.6 2.1 0.0 Bank return on equity (%, after tax) 17.6 25.5 –0.4 Efficiency—Financial Markets Stock market turnover ratio (%) 26.5 4.2 4.2 Stability—Financial Institutions Bank Z-score 6.0 5.6 5.7 Bank nonperforming loans to gross loans (%) 2.8 0.5 17.5 Bank regulatory capital to risk-weighted assets (%) 14.2 10.2 17.4 Stability—Financial Markets Stock price volatility 32.0 17.0 23.6 Other Indicators—Financial Institutions Bank concentration (%) 56.3 59.6 47.4 Boone indicator –0.07 –0.07 –0.02 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 26.8 17.5 15.5 Stock market return (%, year-on-year) 38.5 21.2 12.6 The Little Data Book on Financial Development 2014 119 Lebanon Middle East & North Africa Upper middle income Gross domestic product ($ billions) data 40.1 Population (millions) 4.4 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. 70.3 Deposit money banks’ assets to GDP (%) .. .. 134.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. 26.1 Stock market total value traded to GDP (%) .. .. 2.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. 70.2 Outstanding international debt securities to GDP (%) .. .. 59.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 767 949 Bank branches per 100,000 adults (age 15+) .. 29.6 31.5 Account at a formal financial institution (%, age 15+) .. .. 37.0 Saved at a financial institution in the past year (%, age 15+) .. .. 17.1 Loan from a financial institution in the past year (%, age 15+) .. .. 11.3 Electronic payments used to make payments (%, age 15+) .. .. 2.0 Debit card (%, age 15+) .. .. 21.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 35.7 Firms with a checking or savings account (%) .. .. 86.7 Firms with bank loan/line of credit (%) .. .. 69.4 Firms using banks to finance investments (%) .. .. 23.8 Firms using banks to finance working capital (%) .. .. 51.3 Small firms with bank loan/line of credit (%) .. .. 66.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.5 2.4 2.0 Bank lending-deposit spread 6.3 2.3 1.6 Bank overhead costs to total assets (%) 1.6 1.5 1.4 Bank return on assets (%, after tax) 0.7 0.6 0.9 Bank return on equity (%, after tax) 9.8 8.4 10.4 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. 4.9 Stability—Financial Institutions Bank Z-score 41.5 44.5 50.0 Bank nonperforming loans to gross loans (%) 10.0 13.5 3.8 Bank regulatory capital to risk-weighted assets (%) 18.0 25.0 12.1 Stability—Financial Markets Stock price volatility 20.4 27.8 10.7 Other Indicators—Financial Institutions Bank concentration (%) 43.1 43.9 51.3 Boone indicator –0.07 –0.07 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.6 2.7 2.3 Stock market return (%, year-on-year) –24.5 67.1 –11.9 120 2014 The Little Data Book on Financial Development Sub-Saharan Africa Lesotho Lower middle income Gross domestic product ($ billions) 2.5 Population (millions) 2.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 13.1 8.5 13.6 Deposit money banks’ assets to GDP (%) 24.0 14.3 17.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 338 342 Bank branches per 100,000 adults (age 15+) .. 1.9 3.2 Account at a formal financial institution (%, age 15+) .. .. 18.5 Saved at a financial institution in the past year (%, age 15+) .. .. 7.9 Loan from a financial institution in the past year (%, age 15+) .. .. 3.0 Electronic payments used to make payments (%, age 15+) .. .. 2.7 Debit card (%, age 15+) .. .. 14.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 17.9 Firms with a checking or savings account (%) .. .. 89.7 Firms with bank loan/line of credit (%) .. .. 32.2 Firms using banks to finance investments (%) .. .. 32.7 Firms using banks to finance working capital (%) .. .. 31.9 Small firms with bank loan/line of credit (%) .. .. 21.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.9 3.0 6.3 Bank lending-deposit spread 11.7 7.6 7.7 Bank overhead costs to total assets (%) 3.8 2.9 4.5 Bank return on assets (%, after tax) 2.0 1.0 2.7 Bank return on equity (%, after tax) 20.5 9.2 29.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.8 10.2 13.7 Bank nonperforming loans to gross loans (%) .. 3.0 2.4 Bank regulatory capital to risk-weighted assets (%) .. 19.0 15.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 100.0 Boone indicator 0.01 0.00 0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 121 Liberia Sub-Saharan Africa Low income Gross domestic product ($ billions) 1.5 data Population (millions) 4.1 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 3.0 6.8 19.0 Deposit money banks’ assets to GDP (%) 5.5 9.4 20.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 0.9 3.8 Account at a formal financial institution (%, age 15+) .. .. 18.8 Saved at a financial institution in the past year (%, age 15+) .. .. 13.9 Loan from a financial institution in the past year (%, age 15+) .. .. 6.5 Electronic payments used to make payments (%, age 15+) .. .. 3.6 Debit card (%, age 15+) .. .. 3.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 18.0 Firms with a checking or savings account (%) .. .. 67.8 Firms with bank loan/line of credit (%) .. .. 14.0 Firms using banks to finance investments (%) .. .. 10.1 Firms using banks to finance working capital (%) .. .. 12.8 Small firms with bank loan/line of credit (%) .. .. 13.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 13.4 16.3 Bank lending-deposit spread 16.2 12.1 10.7 Bank overhead costs to total assets (%) .. 14.8 6.9 Bank return on assets (%, after tax) .. 2.6 0.0 Bank return on equity (%, after tax) .. 25.0 0.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. 0.00 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 122 2014 The Little Data Book on Financial Development Middle East & North Africa Libya Upper middle income Gross domestic product ($ billions) 62.4 Population (millions) 6.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 15.9 5.8 9.3 Deposit money banks’ assets to GDP (%) 32.1 8.8 13.3 Nonbank financial institutions’ assets to GDP (%) 4.4 3.9 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 10.7 10.8 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.7 1.7 0.0 Bank lending-deposit spread 4.0 3.8 3.5 Bank overhead costs to total assets (%) 0.6 0.5 0.2 Bank return on assets (%, after tax) 0.3 1.0 0.0 Bank return on equity (%, after tax) 4.9 11.8 –0.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 20.2 30.2 31.1 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 89.4 87.7 98.2 Boone indicator 0.01 0.02 0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 123 Liechtenstein High income Gross domestic product ($ billions) 4.8 data Population (thousands) data 36.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 124 2014 The Little Data Book on Financial Development Lithuania High income Gross domestic product ($ billions) 42.9 Population (millions) 3.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 12.9 42.5 .. Deposit money banks’ assets to GDP (%) 18.4 46.6 5.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 11.5 30.6 11.8 Stock market total value traded to GDP (%) 1.7 4.7 0.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 9.1 11.5 25.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 27.0 27.7 Account at a formal financial institution (%, age 15+) .. .. 73.8 Saved at a financial institution in the past year (%, age 15+) .. .. 20.5 Loan from a financial institution in the past year (%, age 15+) .. .. 5.6 Electronic payments used to make payments (%, age 15+) .. .. 31.5 Debit card (%, age 15+) .. .. 61.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 70.8 Firms with a checking or savings account (%) .. .. 98.3 Firms with bank loan/line of credit (%) .. .. 53.0 Firms using banks to finance investments (%) 14.4 21.8 47.4 Firms using banks to finance working capital (%) 26.0 31.9 .. Small firms with bank loan/line of credit (%) .. .. 43.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.3 2.7 1.9 Bank lending-deposit spread 6.6 2.1 4.3 Bank overhead costs to total assets (%) 5.5 2.2 1.5 Bank return on assets (%, after tax) –0.1 1.5 1.5 Bank return on equity (%, after tax) –1.2 19.3 16.8 Efficiency—Financial Markets Stock market turnover ratio (%) 15.0 22.7 4.8 Stability—Financial Institutions Bank Z-score 6.0 5.3 6.7 Bank nonperforming loans to gross loans (%) 8.3 1.0 16.4 Bank regulatory capital to risk-weighted assets (%) 15.7 10.8 14.0 Stability—Financial Markets Stock price volatility 15.8 15.8 17.6 Other Indicators—Financial Institutions Bank concentration (%) 83.6 73.0 78.4 Boone indicator –0.05 –0.05 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 15.5 13.0 10.9 Stock market return (%, year-on-year) –16.0 2.0 10.7 The Little Data Book on Financial Development 2014 125 Luxembourg High income Gross domestic product ($ billions) data 59.2 Population (thousands) data 518.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 114.2 135.4 173.7 Deposit money banks’ assets to GDP (%) 119.0 139.5 181.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 140.9 154.7 149.0 Stock market total value traded to GDP (%) 4.0 0.6 0.3 Outstanding domestic private debt securities to GDP (%) .. .. 3.2 Outstanding domestic public debt securities to GDP (%) 2.9 0.5 0.0 Outstanding international debt securities to GDP (%) 101.0 .. 168.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 101.2 88.6 Account at a formal financial institution (%, age 15+) .. .. 94.6 Saved at a financial institution in the past year (%, age 15+) .. .. 52.0 Loan from a financial institution in the past year (%, age 15+) .. .. 17.4 Electronic payments used to make payments (%, age 15+) .. .. 67.7 Debit card (%, age 15+) .. .. 73.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 94.3 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 17.6 7.3 8.6 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 16.8 4.9 5.0 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.7 0.8 0.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 0.6 0.6 0.8 Bank return on assets (%, after tax) 0.5 0.9 0.0 Bank return on equity (%, after tax) 12.7 18.6 1.1 Efficiency—Financial Markets Stock market turnover ratio (%) 1.5 0.4 0.1 Stability—Financial Institutions Bank Z-score 19.9 24.5 26.1 Bank nonperforming loans to gross loans (%) 0.4 0.1 0.4 Bank regulatory capital to risk-weighted assets (%) 13.7 15.3 20.8 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 37.5 36.5 34.5 Boone indicator –0.06 –0.06 –0.03 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 104.2 76.2 59.8 Stock market return (%, year-on-year) .. .. .. 126 2014 The Little Data Book on Financial Development Macao SAR, China High income Gross domestic product ($ billions) 36.8 Population (thousands) 546.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 70.7 39.3 50.5 Deposit money banks’ assets to GDP (%) 72.1 41.0 51.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 35.8 37.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.0 2.1 1.3 Bank lending-deposit spread 5.4 5.9 5.2 Bank overhead costs to total assets (%) 1.7 1.1 1.0 Bank return on assets (%, after tax) 0.7 1.4 0.8 Bank return on equity (%, after tax) 9.2 18.7 9.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 37.6 34.8 40.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 69.4 90.5 83.5 Boone indicator 0.03 0.00 0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 127 Macedonia, FYR Europe & Central Asia Upper middle income Gross domestic product ($ billions) data 10.4 Population (millions) 2.1 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 17.9 25.8 43.7 Deposit money banks’ assets to GDP (%) 21.4 29.3 47.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 0.8 13.4 6.1 Stock market total value traded to GDP (%) 2.4 2.2 0.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.6 5.8 5.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 18.9 24.3 Account at a formal financial institution (%, age 15+) .. .. 73.7 Saved at a financial institution in the past year (%, age 15+) .. .. 7.8 Loan from a financial institution in the past year (%, age 15+) .. .. 10.6 Electronic payments used to make payments (%, age 15+) .. .. 14.1 Debit card (%, age 15+) .. .. 36.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 71.0 Firms with a checking or savings account (%) .. .. 96.8 Firms with bank loan/line of credit (%) .. .. 61.1 Firms using banks to finance investments (%) 9.8 17.7 47.0 Firms using banks to finance working capital (%) 8.9 17.3 .. Small firms with bank loan/line of credit (%) .. .. 58.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.7 4.7 4.3 Bank lending-deposit spread 9.4 6.6 3.0 Bank overhead costs to total assets (%) 4.4 3.7 3.0 Bank return on assets (%, after tax) –1.0 2.0 0.4 Bank return on equity (%, after tax) –5.8 13.2 3.3 Efficiency—Financial Markets Stock market turnover ratio (%) 179.1 22.2 8.0 Stability—Financial Institutions Bank Z-score 17.4 19.6 14.3 Bank nonperforming loans to gross loans (%) 23.1 11.2 9.5 Bank regulatory capital to risk-weighted assets (%) 28.1 18.3 16.8 Stability—Financial Markets Stock price volatility .. 23.5 16.0 Other Indicators—Financial Institutions Bank concentration (%) 80.9 75.2 71.0 Boone indicator –0.06 –0.09 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.0 20.5 15.2 Stock market return (%, year-on-year) .. –42.5 –6.7 128 2014 The Little Data Book on Financial Development Sub-Saharan Africa Madagascar Low income Gross domestic product ($ billions) 9.9 Population (millions) 21.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 8.0 9.1 10.9 Deposit money banks’ assets to GDP (%) 11.0 11.0 13.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 19 44 Bank branches per 100,000 adults (age 15+) .. 1.2 1.4 Account at a formal financial institution (%, age 15+) .. .. 5.5 Saved at a financial institution in the past year (%, age 15+) .. .. 1.4 Loan from a financial institution in the past year (%, age 15+) .. .. 2.3 Electronic payments used to make payments (%, age 15+) .. .. 0.1 Debit card (%, age 15+) .. .. 0.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 5.2 Firms with a checking or savings account (%) .. .. 94.1 Firms with bank loan/line of credit (%) .. .. 20.6 Firms using banks to finance investments (%) .. .. 12.2 Firms using banks to finance working capital (%) .. .. 20.2 Small firms with bank loan/line of credit (%) .. .. 15.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.0 10.0 6.7 Bank lending-deposit spread 13.3 7.2 41.9 Bank overhead costs to total assets (%) 4.9 3.2 5.3 Bank return on assets (%, after tax) 2.5 4.0 2.3 Bank return on equity (%, after tax) 26.6 38.4 24.4 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 12.7 15.9 12.7 Bank nonperforming loans to gross loans (%) 8.6 .. .. Bank regulatory capital to risk-weighted assets (%) 14.1 .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 86.6 88.1 93.1 Boone indicator –0.03 –0.03 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 129 Malawi Sub-Saharan Africa Low income Gross domestic product ($ billions) 5.6 data Population (millions) data 15.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.9 5.3 17.8 Deposit money banks’ assets to GDP (%) 7.7 8.4 23.3 Nonbank financial institutions’ assets to GDP (%) 4.6 3.1 .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 12.4 22.9 Stock market total value traded to GDP (%) .. 0.3 0.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 191 Bank branches per 100,000 adults (age 15+) .. .. 1.1 Account at a formal financial institution (%, age 15+) .. .. 16.5 Saved at a financial institution in the past year (%, age 15+) .. .. 8.2 Loan from a financial institution in the past year (%, age 15+) .. .. 9.2 Electronic payments used to make payments (%, age 15+) .. .. 0.8 Debit card (%, age 15+) .. .. 9.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 15.9 Firms with a checking or savings account (%) .. .. 96.9 Firms with bank loan/line of credit (%) .. .. 40.1 Firms using banks to finance investments (%) .. .. 20.6 Firms using banks to finance working capital (%) .. .. 31.0 Small firms with bank loan/line of credit (%) .. .. 27.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 15.4 10.9 11.3 Bank lending-deposit spread 21.2 21.3 19.6 Bank overhead costs to total assets (%) 10.1 7.1 8.6 Bank return on assets (%, after tax) 4.5 5.4 4.5 Bank return on equity (%, after tax) 33.2 37.1 25.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. 3.7 4.1 Stability—Financial Institutions Bank Z-score 21.2 23.3 25.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 88.7 96.1 87.5 Boone indicator –0.06 –0.08 –0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.8 0.9 Stock market return (%, year-on-year) .. .. .. 130 2014 The Little Data Book on Financial Development East Asia & Pacific Malaysia Upper middle income Gross domestic product ($ billions) 287.9 Population (millions) 28.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 127.7 100.7 106.4 Deposit money banks’ assets to GDP (%) 136.7 107.3 120.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 127.4 130.2 144.1 Stock market total value traded to GDP (%) 42.7 36.5 38.9 Outstanding domestic private debt securities to GDP (%) 35.8 61.3 58.1 Outstanding domestic public debt securities to GDP (%) 32.5 38.9 54.0 Outstanding international debt securities to GDP (%) 18.1 19.9 15.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 10.9 10.5 Account at a formal financial institution (%, age 15+) .. .. 66.2 Saved at a financial institution in the past year (%, age 15+) .. .. 35.4 Loan from a financial institution in the past year (%, age 15+) .. .. 11.2 Electronic payments used to make payments (%, age 15+) .. .. 12.6 Debit card (%, age 15+) .. .. 23.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 62.7 Firms with a checking or savings account (%) .. 97.7 .. Firms with bank loan/line of credit (%) .. 60.4 .. Firms using banks to finance investments (%) .. 48.6 .. Firms using banks to finance working capital (%) .. 49.3 .. Small firms with bank loan/line of credit (%) .. 57.2 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 89.3 74.9 63.5 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 62.2 63.9 62.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 37.6 33.7 Efficiency—Financial Institutions Bank net interest margin (%) 3.8 2.8 4.7 Bank lending-deposit spread 3.8 3.3 2.0 Bank overhead costs to total assets (%) 1.7 1.4 2.2 Bank return on assets (%, after tax) 1.2 1.0 2.3 Bank return on equity (%, after tax) 12.7 12.0 26.0 Efficiency—Financial Markets Stock market turnover ratio (%) 17.6 31.6 31.1 Stability—Financial Institutions Bank Z-score 27.4 25.2 29.2 Bank nonperforming loans to gross loans (%) 17.8 8.5 2.7 Bank regulatory capital to risk-weighted assets (%) 13.0 14.7 17.7 Stability—Financial Markets Stock price volatility 21.2 7.8 9.2 Other Indicators—Financial Institutions Bank concentration (%) 49.1 76.2 52.7 Boone indicator –0.05 –0.03 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 33.8 39.0 32.7 Stock market return (%, year-on-year) –24.3 5.7 9.7 The Little Data Book on Financial Development 2014 131 Maldives South Asia Upper middle income Gross domestic product ($ billions) 2.2 data Population (thousands) data 332.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 45.6 79.4 Deposit money banks’ assets to GDP (%) .. 50.2 112.2 Nonbank financial institutions’ assets to GDP (%) .. 2.5 7.7 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 859 1,334 Bank branches per 100,000 adults (age 15+) .. 15.5 17.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 6.7 7.1 Bank lending-deposit spread 6.0 6.5 6.0 Bank overhead costs to total assets (%) .. 2.1 2.6 Bank return on assets (%, after tax) .. 2.9 0.0 Bank return on equity (%, after tax) .. 21.9 0.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 132 2014 The Little Data Book on Financial Development Sub-Saharan Africa Mali Low income Gross domestic product ($ billions) 10.7 Population (millions) 14.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 14.2 16.6 19.3 Deposit money banks’ assets to GDP (%) 15.3 17.8 21.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 8.2 Saved at a financial institution in the past year (%, age 15+) .. .. 4.5 Loan from a financial institution in the past year (%, age 15+) .. .. 3.7 Electronic payments used to make payments (%, age 15+) .. .. 0.1 Debit card (%, age 15+) .. .. 1.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 7.5 Firms with a checking or savings account (%) .. 77.5 85.6 Firms with bank loan/line of credit (%) .. 10.0 16.6 Firms using banks to finance investments (%) .. 7.0 29.3 Firms using banks to finance working capital (%) .. 6.7 21.4 Small firms with bank loan/line of credit (%) .. 5.8 12.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.9 6.5 4.0 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.4 5.4 4.2 Bank return on assets (%, after tax) 2.1 1.5 1.7 Bank return on equity (%, after tax) 20.0 13.2 17.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 17.3 17.4 13.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 71.7 70.0 80.5 Boone indicator –0.10 –0.09 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 133 Malta High income Gross domestic product ($ billions) 9.2 data Population (thousands) data 416.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 109.4 107.7 127.2 Deposit money banks’ assets to GDP (%) 138.6 134.1 156.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 43.1 67.9 32.7 Stock market total value traded to GDP (%) 2.9 3.2 0.4 Outstanding domestic private debt securities to GDP (%) .. 14.8 7.3 Outstanding domestic public debt securities to GDP (%) .. 59.7 62.7 Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 957 Bank branches per 100,000 adults (age 15+) .. 37.2 41.6 Account at a formal financial institution (%, age 15+) .. .. 95.3 Saved at a financial institution in the past year (%, age 15+) .. .. 44.8 Loan from a financial institution in the past year (%, age 15+) .. .. 10.0 Electronic payments used to make payments (%, age 15+) .. .. 34.5 Debit card (%, age 15+) .. .. 71.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 89.1 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 0.3 1.1 2.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 0.9 2.0 7.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.6 2.4 2.6 Bank lending-deposit spread 2.1 2.6 .. Bank overhead costs to total assets (%) 1.6 1.2 1.6 Bank return on assets (%, after tax) 1.0 1.5 0.5 Bank return on equity (%, after tax) 13.0 9.0 4.7 Efficiency—Financial Markets Stock market turnover ratio (%) 2.8 5.9 1.6 Stability—Financial Institutions Bank Z-score 10.1 22.1 13.8 Bank nonperforming loans to gross loans (%) 13.0 5.9 7.4 Bank regulatory capital to risk-weighted assets (%) 14.3 15.0 15.8 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 94.7 87.1 Boone indicator –0.07 –0.06 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 30.5 34.4 48.0 Stock market return (%, year-on-year) .. .. .. 134 2014 The Little Data Book on Financial Development East Asia & Pacific Marshall Islands Upper middle income Gross domestic product ($ millions) 173.7 Population (thousands) 52.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 7.7 12.8 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 135 Mauritania Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) 4.3 data Population (millions) 3.7 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 19.3 24.2 Deposit money banks’ assets to GDP (%) .. 25.1 29.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 4.0 4.2 Account at a formal financial institution (%, age 15+) .. .. 17.5 Saved at a financial institution in the past year (%, age 15+) .. .. 6.4 Loan from a financial institution in the past year (%, age 15+) .. .. 7.9 Electronic payments used to make payments (%, age 15+) .. .. 2.6 Debit card (%, age 15+) .. .. 6.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 16.9 Firms with a checking or savings account (%) .. 76.3 .. Firms with bank loan/line of credit (%) .. 16.0 .. Firms using banks to finance investments (%) .. 3.2 .. Firms using banks to finance working capital (%) .. 13.5 .. Small firms with bank loan/line of credit (%) .. 12.1 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.6 6.1 3.2 Bank lending-deposit spread 14.5 16.0 9.0 Bank overhead costs to total assets (%) 4.8 4.2 3.1 Bank return on assets (%, after tax) 2.0 1.9 0.9 Bank return on equity (%, after tax) 10.4 8.6 4.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 27.8 36.6 28.4 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 76.5 68.3 Boone indicator –0.02 –0.04 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 136 2014 The Little Data Book on Financial Development Sub-Saharan Africa Mauritius Upper middle income Gross domestic product ($ billions) 11.2 Population (millions) 1.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 54.1 69.2 86.7 Deposit money banks’ assets to GDP (%) 68.1 94.8 106.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 25.0 46.5 69.8 Stock market total value traded to GDP (%) 2.0 2.2 4.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 3.4 .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 18.3 21.3 Account at a formal financial institution (%, age 15+) .. .. 80.1 Saved at a financial institution in the past year (%, age 15+) .. .. 30.8 Loan from a financial institution in the past year (%, age 15+) .. .. 14.3 Electronic payments used to make payments (%, age 15+) .. .. 7.4 Debit card (%, age 15+) .. .. 50.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 74.9 Firms with a checking or savings account (%) .. .. 97.2 Firms with bank loan/line of credit (%) .. .. 47.4 Firms using banks to finance investments (%) .. .. 37.5 Firms using banks to finance working capital (%) .. .. 39.5 Small firms with bank loan/line of credit (%) .. .. 41.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. 3.0 14.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. 40.5 43.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.7 3.3 3.1 Bank lending-deposit spread 11.3 11.5 1.8 Bank overhead costs to total assets (%) 0.5 2.4 3.0 Bank return on assets (%, after tax) 3.0 1.7 1.2 Bank return on equity (%, after tax) 19.2 10.3 8.0 Efficiency—Financial Markets Stock market turnover ratio (%) 9.9 4.5 6.7 Stability—Financial Institutions Bank Z-score 21.8 18.7 20.4 Bank nonperforming loans to gross loans (%) 8.3 3.0 2.8 Bank regulatory capital to risk-weighted assets (%) 13.3 15.8 15.6 Stability—Financial Markets Stock price volatility 4.9 7.9 8.2 Other Indicators—Financial Institutions Bank concentration (%) 89.9 61.5 49.6 Boone indicator –0.06 –0.05 –0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 33.3 32.7 66.9 Stock market return (%, year-on-year) –8.6 21.4 14.8 The Little Data Book on Financial Development 2014 137 Mexico Latin America & Caribbean Upper middle income data Gross domestic product ($ billions) 1,158.1 Population (millions) data 119.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 15.2 14.7 18.3 Deposit money banks’ assets to GDP (%) 31.4 26.1 33.9 Nonbank financial institutions’ assets to GDP (%) 6.5 11.1 21.0 Depth—Financial Markets Stock market capitalization to GDP (%) 20.4 30.6 37.4 Stock market total value traded to GDP (%) 6.9 6.9 9.5 Outstanding domestic private debt securities to GDP (%) 9.7 14.1 15.7 Outstanding domestic public debt securities to GDP (%) 14.2 15.2 22.1 Outstanding international debt securities to GDP (%) 14.1 9.4 9.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 11.3 14.9 Account at a formal financial institution (%, age 15+) .. .. 27.4 Saved at a financial institution in the past year (%, age 15+) .. .. 6.7 Loan from a financial institution in the past year (%, age 15+) .. .. 7.6 Electronic payments used to make payments (%, age 15+) .. .. 8.3 Debit card (%, age 15+) .. .. 22.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 24.6 Firms with a checking or savings account (%) .. 52.0 61.8 Firms with bank loan/line of credit (%) .. 11.4 32.0 Firms using banks to finance investments (%) .. 2.6 16.2 Firms using banks to finance working capital (%) .. 5.9 26.9 Small firms with bank loan/line of credit (%) .. 11.7 26.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 23.0 30.8 37.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 32.9 23.1 34.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 9.1 8.2 Efficiency—Financial Institutions Bank net interest margin (%) 7.2 15.3 3.0 Bank lending-deposit spread 6.6 4.2 4.0 Bank overhead costs to total assets (%) 4.7 9.2 2.5 Bank return on assets (%, after tax) 0.8 1.7 0.6 Bank return on equity (%, after tax) 8.9 13.3 7.4 Efficiency—Financial Markets Stock market turnover ratio (%) 31.6 27.5 25.8 Stability—Financial Institutions Bank Z-score 23.3 32.5 18.1 Bank nonperforming loans to gross loans (%) 5.1 1.8 2.1 Bank regulatory capital to risk-weighted assets (%) 13.9 16.1 15.7 Stability—Financial Markets Stock price volatility 31.0 19.3 15.5 Other Indicators—Financial Institutions Bank concentration (%) 66.4 57.7 57.5 Boone indicator –0.05 –0.04 –0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.6 1.2 1.1 Stock market return (%, year-on-year) –8.4 44.9 7.7 138 2014 The Little Data Book on Financial Development East Asia & Pacific Micronesia, Fed. Sts. Lower middle income Gross domestic product ($ millions) 310.3 Population (thousands) 103.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 11.7 14.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 98.5 Firms with bank loan/line of credit (%) .. .. 43.0 Firms using banks to finance investments (%) .. .. 7.2 Firms using banks to finance working capital (%) .. .. 19.4 Small firms with bank loan/line of credit (%) .. .. 29.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.2 5.7 8.3 Bank lending-deposit spread 12.2 13.6 13.8 Bank overhead costs to total assets (%) 5.9 4.3 4.3 Bank return on assets (%, after tax) 2.4 1.5 1.8 Bank return on equity (%, after tax) 11.2 9.4 9.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 28.3 23.3 27.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 139 Moldova Europe & Central Asia Lower middle income Gross domestic product ($ billions) 7.0 data Population (millions) 3.6 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 12.6 23.7 31.6 Deposit money banks’ assets to GDP (%) 16.4 27.7 36.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 2.7 .. .. Stock market total value traded to GDP (%) 1.6 0.6 1.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 5.0 .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 904 1,167 Bank branches per 100,000 adults (age 15+) .. 8.3 11.3 Account at a formal financial institution (%, age 15+) .. .. 18.1 Saved at a financial institution in the past year (%, age 15+) .. .. 3.5 Loan from a financial institution in the past year (%, age 15+) .. .. 6.4 Electronic payments used to make payments (%, age 15+) .. .. 2.2 Debit card (%, age 15+) .. .. 16.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 16.8 Firms with a checking or savings account (%) .. .. 88.2 Firms with bank loan/line of credit (%) .. .. 39.6 Firms using banks to finance investments (%) 26.6 27.0 30.8 Firms using banks to finance working capital (%) 34.5 33.7 .. Small firms with bank loan/line of credit (%) .. .. 30.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 10.0 6.9 6.3 Bank lending-deposit spread 7.8 6.2 6.9 Bank overhead costs to total assets (%) 7.1 5.0 4.7 Bank return on assets (%, after tax) 6.6 3.8 2.2 Bank return on equity (%, after tax) 29.5 21.3 12.0 Efficiency—Financial Markets Stock market turnover ratio (%) 111.8 .. .. Stability—Financial Institutions Bank Z-score 16.7 11.5 10.9 Bank nonperforming loans to gross loans (%) 8.0 4.4 10.7 Bank regulatory capital to risk-weighted assets (%) 36.0 27.8 30.4 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 91.0 51.4 52.2 Boone indicator –0.20 –0.11 –0.12 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 140 2014 The Little Data Book on Financial Development Monaco High income Gross domestic product ($ billions) 6.1 Population (thousands) 37.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.7 0.7 .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 1.2 2.2 .. Bank return on assets (%, after tax) 0.2 –1.3 .. Bank return on equity (%, after tax) 5.8 –12.7 .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 4.5 12.4 .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 90.6 .. .. Boone indicator –0.03 2.13 .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 141 Mongolia East Asia & Pacific Lower middle income Gross domestic product ($ billions) 8.8 data Population (millions) 2.8 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 8.0 25.9 41.4 Deposit money banks’ assets to GDP (%) 11.4 26.9 43.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 3.0 2.3 15.9 Stock market total value traded to GDP (%) 0.4 0.2 0.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 345 3,183 Bank branches per 100,000 adults (age 15+) .. 46.0 66.4 Account at a formal financial institution (%, age 15+) .. .. 77.7 Saved at a financial institution in the past year (%, age 15+) .. .. 23.2 Loan from a financial institution in the past year (%, age 15+) .. .. 24.8 Electronic payments used to make payments (%, age 15+) .. .. 21.6 Debit card (%, age 15+) .. .. 60.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 77.0 Firms with a checking or savings account (%) .. .. 61.4 Firms with bank loan/line of credit (%) .. .. 52.9 Firms using banks to finance investments (%) .. .. 26.5 Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. 51.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.7 5.3 3.1 Bank lending-deposit spread 23.1 13.9 6.1 Bank overhead costs to total assets (%) 5.7 3.5 1.7 Bank return on assets (%, after tax) 1.2 0.5 1.7 Bank return on equity (%, after tax) 10.8 4.5 23.0 Efficiency—Financial Markets Stock market turnover ratio (%) 4.2 13.4 3.3 Stability—Financial Institutions Bank Z-score 29.8 29.9 22.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility 49.2 89.6 32.4 Other Indicators—Financial Institutions Bank concentration (%) 96.1 70.2 92.8 Boone indicator –0.11 –0.08 –0.13 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 165.3 150.8 120.5 Stock market return (%, year-on-year) 81.0 61.3 99.9 142 2014 The Little Data Book on Financial Development Europe & Central Asia Montenegro Upper middle income Gross domestic product ($ billions) 4.5 Population (thousands) 620.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 25.6 60.0 Deposit money banks’ assets to GDP (%) .. 29.0 66.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 52.1 79.5 Stock market total value traded to GDP (%) .. 7.3 1.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 26.6 39.6 Account at a formal financial institution (%, age 15+) .. .. 50.4 Saved at a financial institution in the past year (%, age 15+) .. .. 3.4 Loan from a financial institution in the past year (%, age 15+) .. .. 21.8 Electronic payments used to make payments (%, age 15+) .. .. 3.5 Debit card (%, age 15+) .. .. 22.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 50.4 Firms with a checking or savings account (%) .. .. 78.5 Firms with bank loan/line of credit (%) .. .. 49.6 Firms using banks to finance investments (%) .. .. 75.8 Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. 46.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 14.5 4.1 5.4 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 12.6 5.2 4.3 Bank return on assets (%, after tax) 3.4 0.7 –0.9 Bank return on equity (%, after tax) 16.6 5.8 –7.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. 20.5 2.2 Stability—Financial Institutions Bank Z-score 14.3 6.3 6.1 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. 27.6 15.6 Other Indicators—Financial Institutions Bank concentration (%) 82.4 70.7 74.4 Boone indicator –0.03 –0.07 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 25.9 46.7 Stock market return (%, year-on-year) .. 152.0 –15.6 The Little Data Book on Financial Development 2014 143 Morocco Middle East & North Africa Lower middle income Gross domestic product ($ billions) data 99.2 Population (millions) data 32.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 47.4 52.9 68.7 Deposit money banks’ assets to GDP (%) 63.9 68.5 86.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 25.4 58.6 66.4 Stock market total value traded to GDP (%) 2.6 13.4 8.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 0.8 0.8 2.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 11.4 22.3 Account at a formal financial institution (%, age 15+) .. .. 39.1 Saved at a financial institution in the past year (%, age 15+) .. .. 12.2 Loan from a financial institution in the past year (%, age 15+) .. .. 4.3 Electronic payments used to make payments (%, age 15+) .. .. 7.4 Debit card (%, age 15+) .. .. 22.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 29.8 Firms with a checking or savings account (%) .. 86.8 .. Firms with bank loan/line of credit (%) .. 33.4 .. Firms using banks to finance investments (%) .. 12.3 .. Firms using banks to finance working capital (%) .. 30.2 .. Small firms with bank loan/line of credit (%) .. 20.0 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. 25.1 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. 29.6 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.7 4.2 2.6 Bank lending-deposit spread 8.2 8.0 .. Bank overhead costs to total assets (%) 2.3 2.5 2.0 Bank return on assets (%, after tax) 0.9 1.4 1.2 Bank return on equity (%, after tax) 9.2 18.3 13.6 Efficiency—Financial Markets Stock market turnover ratio (%) 10.2 35.1 9.6 Stability—Financial Institutions Bank Z-score 31.6 29.6 30.6 Bank nonperforming loans to gross loans (%) 16.8 10.9 4.9 Bank regulatory capital to risk-weighted assets (%) 12.6 12.3 12.3 Stability—Financial Markets Stock price volatility 13.5 17.3 11.9 Other Indicators—Financial Institutions Bank concentration (%) 66.0 62.9 71.2 Boone indicator –0.03 –0.03 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.9 2.1 2.3 Stock market return (%, year-on-year) –14.3 51.2 –0.1 144 2014 The Little Data Book on Financial Development Sub-Saharan Africa Mozambique Low income Gross domestic product ($ billions) 12.6 Population (millions) 24.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 12.5 11.5 23.2 Deposit money banks’ assets to GDP (%) 15.3 19.8 32.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 2.0 3.6 Account at a formal financial institution (%, age 15+) .. .. 39.9 Saved at a financial institution in the past year (%, age 15+) .. .. 17.5 Loan from a financial institution in the past year (%, age 15+) .. .. 5.9 Electronic payments used to make payments (%, age 15+) .. .. 17.3 Debit card (%, age 15+) .. .. 37.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 39.9 Firms with a checking or savings account (%) .. 75.7 .. Firms with bank loan/line of credit (%) .. 14.2 .. Firms using banks to finance investments (%) .. 10.5 .. Firms using banks to finance working capital (%) .. 8.5 .. Small firms with bank loan/line of credit (%) .. 6.5 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.8 8.6 9.8 Bank lending-deposit spread 7.7 8.2 6.1 Bank overhead costs to total assets (%) 5.9 7.0 7.4 Bank return on assets (%, after tax) 5.6 3.8 3.0 Bank return on equity (%, after tax) 160.4 50.0 23.4 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 1.5 1.8 2.6 Bank nonperforming loans to gross loans (%) 23.4 3.1 2.6 Bank regulatory capital to risk-weighted assets (%) 8.4 12.5 17.1 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 91.1 99.1 83.2 Boone indicator 1.25 1.79 1.99 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 145 Myanmar East Asia & Pacific Low income Gross domestic product ($ millions) .. data Population (millions) data 52.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 8.8 4.0 .. Deposit money banks’ assets to GDP (%) 12.1 5.6 .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 1.4 1.7 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.9 0.2 0.7 Bank lending-deposit spread 5.5 4.7 5.0 Bank overhead costs to total assets (%) 0.5 1.0 0.3 Bank return on assets (%, after tax) 0.8 0.1 0.0 Bank return on equity (%, after tax) 12.6 6.7 1.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.5 0.8 1.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 98.1 Boone indicator –0.03 –0.03 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 146 2014 The Little Data Book on Financial Development Sub-Saharan Africa Namibia Upper middle income Gross domestic product ($ billions) 12.5 Population (millions) 2.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 42.1 47.6 48.0 Deposit money banks’ assets to GDP (%) 46.5 53.1 54.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 4.4 5.8 9.6 Stock market total value traded to GDP (%) 0.1 0.1 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 125 470 Bank branches per 100,000 adults (age 15+) .. 7.7 7.1 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. 97.5 .. Firms with bank loan/line of credit (%) .. 24.0 .. Firms using banks to finance investments (%) .. 8.1 .. Firms using banks to finance working capital (%) .. 19.6 .. Small firms with bank loan/line of credit (%) .. 23.6 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.3 4.7 6.1 Bank lending-deposit spread 7.7 4.9 4.4 Bank overhead costs to total assets (%) 2.8 4.2 4.4 Bank return on assets (%, after tax) 6.1 1.5 3.3 Bank return on equity (%, after tax) 8.3 8.9 23.5 Efficiency—Financial Markets Stock market turnover ratio (%) 1.0 3.9 1.2 Stability—Financial Institutions Bank Z-score 32.3 7.2 6.9 Bank nonperforming loans to gross loans (%) 3.4 2.6 1.5 Bank regulatory capital to risk-weighted assets (%) 15.5 14.2 14.0 Stability—Financial Markets Stock price volatility .. 18.8 20.9 Other Indicators—Financial Institutions Bank concentration (%) .. 91.2 83.4 Boone indicator –0.04 0.09 0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 6.7 4.4 3.2 Stock market return (%, year-on-year) .. 46.4 6.1 The Little Data Book on Financial Development 2014 147 Nepal South Asia Low income Gross domestic product ($ billions) data 19.0 Population (millions) 27.2 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 27.2 28.7 50.0 Deposit money banks’ assets to GDP (%) 32.5 37.9 59.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 10.2 17.4 24.7 Stock market total value traded to GDP (%) 0.4 0.6 0.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 280 Bank branches per 100,000 adults (age 15+) .. 2.4 6.7 Account at a formal financial institution (%, age 15+) .. .. 25.3 Saved at a financial institution in the past year (%, age 15+) .. .. 9.9 Loan from a financial institution in the past year (%, age 15+) .. .. 10.8 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 3.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 24.9 Firms with a checking or savings account (%) .. .. 73.7 Firms with bank loan/line of credit (%) .. .. 39.1 Firms using banks to finance investments (%) .. .. 17.5 Firms using banks to finance working capital (%) .. .. 32.1 Small firms with bank loan/line of credit (%) .. .. 36.3 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.9 3.6 4.2 Bank lending-deposit spread 2.9 5.8 4.4 Bank overhead costs to total assets (%) 1.9 2.1 2.0 Bank return on assets (%, after tax) 1.7 1.8 1.8 Bank return on equity (%, after tax) 27.4 24.5 18.1 Efficiency—Financial Markets Stock market turnover ratio (%) 3.1 4.4 1.7 Stability—Financial Institutions Bank Z-score 6.4 4.2 8.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 59.5 42.5 28.2 Boone indicator –0.06 –0.06 –0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.0 5.3 6.7 Stock market return (%, year-on-year) .. .. .. 148 2014 The Little Data Book on Financial Development Netherlands High income Gross domestic product ($ billions) 836.1 Population (millions) 16.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 131.6 162.7 198.2 Deposit money banks’ assets to GDP (%) 144.1 173.7 211.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 136.9 102.1 78.0 Stock market total value traded to GDP (%) 212.7 143.7 71.1 Outstanding domestic private debt securities to GDP (%) 49.0 68.2 71.8 Outstanding domestic public debt securities to GDP (%) 40.2 40.1 47.9 Outstanding international debt securities to GDP (%) 77.9 120.7 171.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 27.7 21.5 Account at a formal financial institution (%, age 15+) .. .. 98.7 Saved at a financial institution in the past year (%, age 15+) .. .. 57.8 Loan from a financial institution in the past year (%, age 15+) .. .. 12.6 Electronic payments used to make payments (%, age 15+) .. .. 80.2 Debit card (%, age 15+) .. .. 97.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 98.1 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.2 0.3 1.0 Bank lending-deposit spread 1.9 0.6 .. Bank overhead costs to total assets (%) 0.6 0.2 0.9 Bank return on assets (%, after tax) 0.8 0.9 0.3 Bank return on equity (%, after tax) 9.0 17.1 6.1 Efficiency—Financial Markets Stock market turnover ratio (%) 188.5 158.4 85.0 Stability—Financial Institutions Bank Z-score 9.9 6.9 4.6 Bank nonperforming loans to gross loans (%) 2.3 1.7 2.7 Bank regulatory capital to risk-weighted assets (%) 11.7 11.9 13.5 Stability—Financial Markets Stock price volatility 19.9 12.0 19.6 Other Indicators—Financial Institutions Bank concentration (%) 87.1 88.0 80.7 Boone indicator 0.02 0.00 0.06 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 11.2 13.8 6.5 Stock market return (%, year-on-year) –18.2 20.1 –2.3 The Little Data Book on Financial Development 2014 149 New Caledonia High income Gross domestic product ($ billions) .. data Population (thousands) data 254.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 150 2014 The Little Data Book on Financial Development New Zealand High income Gross domestic product ($ billions) 139.8 Population (millions) 4.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 105.5 124.8 143.9 Deposit money banks’ assets to GDP (%) 112.0 127.9 151.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 33.9 39.1 52.9 Stock market total value traded to GDP (%) 17.8 16.5 13.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 26.0 19.3 27.2 Outstanding international debt securities to GDP (%) 16.0 6.5 9.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 35.3 34.0 Account at a formal financial institution (%, age 15+) .. .. 99.4 Saved at a financial institution in the past year (%, age 15+) .. .. 60.4 Loan from a financial institution in the past year (%, age 15+) .. .. 26.6 Electronic payments used to make payments (%, age 15+) .. .. 83.2 Debit card (%, age 15+) .. .. 93.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 98.7 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 43.0 21.0 8.4 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 40.2 42.4 44.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.8 2.8 1.9 Bank lending-deposit spread 2.2 1.3 1.8 Bank overhead costs to total assets (%) 1.6 2.0 1.2 Bank return on assets (%, after tax) 0.8 1.3 0.8 Bank return on equity (%, after tax) 21.1 25.7 12.2 Efficiency—Financial Markets Stock market turnover ratio (%) 47.0 46.2 24.3 Stability—Financial Institutions Bank Z-score 18.8 27.6 26.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility 14.8 9.6 8.8 Other Indicators—Financial Institutions Bank concentration (%) 100.0 92.2 76.1 Boone indicator 0.01 –1.02 –0.35 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 34.0 36.8 32.7 Stock market return (%, year-on-year) –1.3 2.9 2.8 The Little Data Book on Financial Development 2014 151 Nicaragua Latin America & Caribbean Lower middle income Gross domestic product ($ billions) 9.6 data Population (millions) 5.9 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 23.1 30.2 29.8 Deposit money banks’ assets to GDP (%) 26.2 36.6 34.5 Nonbank financial institutions’ assets to GDP (%) 1.9 .. 0.1 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 7.1 7.4 Account at a formal financial institution (%, age 15+) .. .. 14.2 Saved at a financial institution in the past year (%, age 15+) .. .. 6.5 Loan from a financial institution in the past year (%, age 15+) .. .. 7.6 Electronic payments used to make payments (%, age 15+) .. .. 1.5 Debit card (%, age 15+) .. .. 8.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 11.9 Firms with a checking or savings account (%) .. 73.6 75.7 Firms with bank loan/line of credit (%) .. 40.7 43.4 Firms using banks to finance investments (%) .. 13.0 21.9 Firms using banks to finance working capital (%) .. 37.9 18.4 Small firms with bank loan/line of credit (%) .. 39.9 32.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.8 7.3 5.8 Bank lending-deposit spread 7.0 6.7 8.7 Bank overhead costs to total assets (%) 5.0 5.2 4.1 Bank return on assets (%, after tax) –2.8 2.3 1.8 Bank return on equity (%, after tax) 11.0 25.4 18.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score –5.0 8.0 7.9 Bank nonperforming loans to gross loans (%) 5.2 .. .. Bank regulatory capital to risk-weighted assets (%) 14.3 .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 75.9 86.5 83.9 Boone indicator 0.01 –0.04 –0.03 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 152 2014 The Little Data Book on Financial Development Sub-Saharan Africa NigerLow income Gross domestic product ($ billions) 6.0 Population (millions) 16.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.8 7.5 13.0 Deposit money banks’ assets to GDP (%) 5.7 8.2 14.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 1.5 Saved at a financial institution in the past year (%, age 15+) .. .. 1.2 Loan from a financial institution in the past year (%, age 15+) .. .. 1.3 Electronic payments used to make payments (%, age 15+) .. .. 0.2 Debit card (%, age 15+) .. .. 0.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 1.5 Firms with a checking or savings account (%) .. 94.3 94.0 Firms with bank loan/line of credit (%) .. 48.0 29.7 Firms using banks to finance investments (%) .. 14.6 9.3 Firms using banks to finance working capital (%) .. 26.4 33.4 Small firms with bank loan/line of credit (%) .. 40.7 17.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.4 8.2 5.0 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 7.8 7.9 3.8 Bank return on assets (%, after tax) 1.1 0.4 2.2 Bank return on equity (%, after tax) 11.7 3.6 20.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 15.8 15.1 19.6 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 76.2 100.0 Boone indicator –0.13 –0.08 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 153 Nigeria Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) data 244.0 Population (millions) data 164.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 14.8 12.1 22.9 Deposit money banks’ assets to GDP (%) 20.7 17.3 36.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 10.0 18.4 17.3 Stock market total value traded to GDP (%) 0.8 1.9 1.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 4.3 1.4 .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 289 507 Bank branches per 100,000 adults (age 15+) .. 3.7 6.4 Account at a formal financial institution (%, age 15+) .. .. 29.7 Saved at a financial institution in the past year (%, age 15+) .. .. 23.6 Loan from a financial institution in the past year (%, age 15+) .. .. 2.1 Electronic payments used to make payments (%, age 15+) .. .. 2.4 Debit card (%, age 15+) .. .. 18.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 28.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. 3.8 .. Firms using banks to finance investments (%) .. 2.7 .. Firms using banks to finance working capital (%) .. 4.3 .. Small firms with bank loan/line of credit (%) .. 2.9 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 10.4 7.9 8.3 Bank lending-deposit spread 8.2 7.2 10.3 Bank overhead costs to total assets (%) 9.2 7.6 6.5 Bank return on assets (%, after tax) 2.8 3.0 0.1 Bank return on equity (%, after tax) 31.1 18.7 0.9 Efficiency—Financial Markets Stock market turnover ratio (%) 10.3 13.3 9.8 Stability—Financial Institutions Bank Z-score 3.2 4.8 3.6 Bank nonperforming loans to gross loans (%) 19.7 9.3 11.6 Bank regulatory capital to risk-weighted assets (%) 16.2 23.4 9.9 Stability—Financial Markets Stock price volatility 13.0 14.6 17.7 Other Indicators—Financial Institutions Bank concentration (%) 27.8 59.2 42.8 Boone indicator –0.11 –0.07 –0.06 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.5 1.4 1.2 Stock market return (%, year-on-year) 53.1 21.8 –4.6 154 2014 The Little Data Book on Financial Development NorwayHigh income Gross domestic product ($ billions) 491.1 Population (millions) 5.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 67.2 79.6 .. Deposit money banks’ assets to GDP (%) 70.5 82.3 .. Nonbank financial institutions’ assets to GDP (%) 11.5 8.9 .. Depth—Financial Markets Stock market capitalization to GDP (%) 39.1 69.7 49.9 Stock market total value traded to GDP (%) 32.8 80.5 45.1 Outstanding domestic private debt securities to GDP (%) 20.8 21.9 32.0 Outstanding domestic public debt securities to GDP (%) 13.2 12.1 19.8 Outstanding international debt securities to GDP (%) 22.2 .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,110 1,187 Bank branches per 100,000 adults (age 15+) .. 12.0 10.9 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 34.9 27.8 6.7 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 28.3 42.9 24.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) 16.9 20.5 12.4 Efficiency—Financial Institutions Bank net interest margin (%) 2.3 2.1 1.5 Bank lending-deposit spread 2.3 1.9 2.0 Bank overhead costs to total assets (%) 2.0 1.6 1.0 Bank return on assets (%, after tax) 0.9 1.4 0.6 Bank return on equity (%, after tax) 14.0 28.1 10.5 Efficiency—Financial Markets Stock market turnover ratio (%) 78.4 148.0 85.1 Stability—Financial Institutions Bank Z-score 26.6 21.9 22.7 Bank nonperforming loans to gross loans (%) 1.3 0.6 1.7 Bank regulatory capital to risk-weighted assets (%) 12.6 11.2 13.6 Stability—Financial Markets Stock price volatility 20.9 20.7 24.0 Other Indicators—Financial Institutions Bank concentration (%) 91.3 95.2 95.6 Boone indicator –0.01 –0.04 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 41.2 41.8 38.8 Stock market return (%, year-on-year) –6.8 35.4 9.0 The Little Data Book on Financial Development 2014 155 Oman High income Gross domestic product ($ billions) data 71.8 Population (millions) 3.0 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 38.9 28.4 36.8 Deposit money banks’ assets to GDP (%) 44.4 31.2 42.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 16.4 42.6 27.9 Stock market total value traded to GDP (%) 2.4 8.9 4.2 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 1,047 Bank branches per 100,000 adults (age 15+) .. 20.6 23.6 Account at a formal financial institution (%, age 15+) .. .. 73.6 Saved at a financial institution in the past year (%, age 15+) .. .. 22.6 Loan from a financial institution in the past year (%, age 15+) .. .. 9.2 Electronic payments used to make payments (%, age 15+) .. .. 17.5 Debit card (%, age 15+) .. .. 53.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 69.7 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.3 4.3 3.4 Bank lending-deposit spread 4.7 3.4 3.4 Bank overhead costs to total assets (%) 1.9 2.3 2.0 Bank return on assets (%, after tax) 0.0 3.1 1.4 Bank return on equity (%, after tax) 0.1 20.4 11.0 Efficiency—Financial Markets Stock market turnover ratio (%) 16.1 21.2 12.9 Stability—Financial Institutions Bank Z-score 10.9 16.2 12.1 Bank nonperforming loans to gross loans (%) 10.6 4.6 2.7 Bank regulatory capital to risk-weighted assets (%) 15.6 17.2 14.3 Stability—Financial Markets Stock price volatility 12.9 15.0 11.5 Other Indicators—Financial Institutions Bank concentration (%) 81.3 83.3 72.9 Boone indicator 0.04 –0.03 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 40.6 48.5 40.7 Stock market return (%, year-on-year) –17.8 10.6 –6.9 156 2014 The Little Data Book on Financial Development South Asia Pakistan Lower middle income Gross domestic product ($ billions) 210.7 Population (millions) 176.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 21.0 26.7 18.0 Deposit money banks’ assets to GDP (%) 29.9 37.4 34.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 7.5 36.0 16.8 Stock market total value traded to GDP (%) 29.0 105.4 5.5 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 34.8 27.2 30.7 Outstanding international debt securities to GDP (%) 0.9 1.2 0.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 186 257 Bank branches per 100,000 adults (age 15+) .. 7.7 8.7 Account at a formal financial institution (%, age 15+) .. .. 10.3 Saved at a financial institution in the past year (%, age 15+) .. .. 1.4 Loan from a financial institution in the past year (%, age 15+) .. .. 1.6 Electronic payments used to make payments (%, age 15+) .. .. 0.2 Debit card (%, age 15+) .. .. 2.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 10.2 Firms with a checking or savings account (%) .. 64.7 .. Firms with bank loan/line of credit (%) .. 8.6 .. Firms using banks to finance investments (%) .. 9.7 .. Firms using banks to finance working capital (%) .. 4.6 .. Small firms with bank loan/line of credit (%) .. 2.5 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.8 5.3 5.7 Bank lending-deposit spread .. 6.8 6.2 Bank overhead costs to total assets (%) 3.1 2.5 2.9 Bank return on assets (%, after tax) –0.2 2.3 1.4 Bank return on equity (%, after tax) 9.1 24.8 15.2 Efficiency—Financial Markets Stock market turnover ratio (%) 230.5 276.1 28.6 Stability—Financial Institutions Bank Z-score 5.0 14.9 13.5 Bank nonperforming loans to gross loans (%) 23.4 6.9 16.2 Bank regulatory capital to risk-weighted assets (%) 8.8 12.7 14.6 Stability—Financial Markets Stock price volatility 23.1 26.6 15.6 Other Indicators—Financial Institutions Bank concentration (%) 69.2 41.0 40.9 Boone indicator –0.04 –0.05 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.1 4.1 3.6 Stock market return (%, year-on-year) –15.4 37.2 15.2 The Little Data Book on Financial Development 2014 157 Palau East Asia & Pacific Upper middle income Gross domestic product ($ millions) data 212.9 Population (thousands) data 20.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 158 2014 The Little Data Book on Financial Development Latin America & Caribbean Panama Upper middle income Gross domestic product ($ billions) 31.3 Population (millions) 3.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 97.3 76.7 79.1 Deposit money banks’ assets to GDP (%) 98.6 79.9 83.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 22.9 31.4 30.6 Stock market total value traded to GDP (%) 0.8 0.6 0.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 44.9 47.2 34.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 22.1 23.9 Account at a formal financial institution (%, age 15+) .. .. 24.9 Saved at a financial institution in the past year (%, age 15+) .. .. 12.5 Loan from a financial institution in the past year (%, age 15+) .. .. 9.8 Electronic payments used to make payments (%, age 15+) .. .. 3.0 Debit card (%, age 15+) .. .. 11.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 22.8 Firms with a checking or savings account (%) .. 98.6 69.1 Firms with bank loan/line of credit (%) .. 55.6 20.7 Firms using banks to finance investments (%) .. 19.2 1.1 Firms using banks to finance working capital (%) .. 39.4 9.0 Small firms with bank loan/line of credit (%) .. 43.1 18.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.2 4.2 3.2 Bank lending-deposit spread 4.1 4.6 4.6 Bank overhead costs to total assets (%) 2.1 3.1 2.1 Bank return on assets (%, after tax) 1.3 1.1 1.3 Bank return on equity (%, after tax) 16.0 10.6 13.1 Efficiency—Financial Markets Stock market turnover ratio (%) 1.7 2.7 0.7 Stability—Financial Institutions Bank Z-score 39.4 40.6 42.3 Bank nonperforming loans to gross loans (%) 2.8 1.5 0.9 Bank regulatory capital to risk-weighted assets (%) 14.0 15.8 15.6 Stability—Financial Markets Stock price volatility 9.6 6.1 5.8 Other Indicators—Financial Institutions Bank concentration (%) 34.6 75.9 63.8 Boone indicator –0.11 –0.12 –0.10 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 9.0 6.4 5.6 Stock market return (%, year-on-year) –14.7 33.1 20.3 The Little Data Book on Financial Development 2014 159 Papua New Guinea East Asia & Pacific Lower middle income Gross domestic product ($ billions) data 12.4 Population (millions) 7.0 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 16.5 14.6 24.0 Deposit money banks’ assets to GDP (%) 28.0 27.4 34.5 Nonbank financial institutions’ assets to GDP (%) .. .. 12.9 Depth—Financial Markets Stock market capitalization to GDP (%) 46.0 87.3 81.2 Stock market total value traded to GDP (%) 0.0 0.4 0.3 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 149 178 Bank branches per 100,000 adults (age 15+) .. 1.8 1.7 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.7 6.1 7.1 Bank lending-deposit spread 10.7 9.6 9.9 Bank overhead costs to total assets (%) 2.6 4.4 4.8 Bank return on assets (%, after tax) 2.4 3.7 4.8 Bank return on equity (%, after tax) 45.2 35.7 34.8 Efficiency—Financial Markets Stock market turnover ratio (%) 0.1 0.5 0.5 Stability—Financial Institutions Bank Z-score 5.2 6.4 9.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 98.5 Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.3 1.4 1.6 Stock market return (%, year-on-year) .. .. .. 160 2014 The Little Data Book on Financial Development Latin America & Caribbean Paraguay Lower middle income Gross domestic product ($ billions) 26.0 Population (millions) 6.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 27.1 16.0 37.4 Deposit money banks’ assets to GDP (%) 28.4 17.2 38.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 2.6 3.2 1.9 Stock market total value traded to GDP (%) 0.1 0.0 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 65 154 Bank branches per 100,000 adults (age 15+) .. 4.0 9.5 Account at a formal financial institution (%, age 15+) .. .. 21.7 Saved at a financial institution in the past year (%, age 15+) .. .. 9.7 Loan from a financial institution in the past year (%, age 15+) .. .. 12.9 Electronic payments used to make payments (%, age 15+) .. .. 4.2 Debit card (%, age 15+) .. .. 11.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.5 Firms with a checking or savings account (%) .. 84.8 89.7 Firms with bank loan/line of credit (%) .. 46.0 60.2 Firms using banks to finance investments (%) .. 8.2 30.1 Firms using banks to finance working capital (%) .. 25.8 48.0 Small firms with bank loan/line of credit (%) .. 39.8 54.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.8 10.5 8.2 Bank lending-deposit spread 12.0 23.4 25.1 Bank overhead costs to total assets (%) 7.5 25.1 9.0 Bank return on assets (%, after tax) 2.0 3.0 2.7 Bank return on equity (%, after tax) 15.7 25.0 25.9 Efficiency—Financial Markets Stock market turnover ratio (%) 2.4 0.5 3.0 Stability—Financial Institutions Bank Z-score 13.1 14.2 11.6 Bank nonperforming loans to gross loans (%) 16.5 3.3 1.7 Bank regulatory capital to risk-weighted assets (%) 16.9 20.1 14.9 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 44.4 51.3 50.7 Boone indicator –0.53 –0.23 –0.12 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 10.3 9.1 10.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 161 Peru Latin America & Caribbean Upper middle income Gross domestic product ($ billions) data 176.9 Population (millions) data 29.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 24.1 16.4 24.0 Deposit money banks’ assets to GDP (%) 27.3 18.6 25.7 Nonbank financial institutions’ assets to GDP (%) 0.4 0.3 0.2 Depth—Financial Markets Stock market capitalization to GDP (%) 20.2 52.3 51.8 Stock market total value traded to GDP (%) 2.2 3.4 2.5 Outstanding domestic private debt securities to GDP (%) 4.2 3.7 3.3 Outstanding domestic public debt securities to GDP (%) 8.2 9.6 11.3 Outstanding international debt securities to GDP (%) 8.0 9.4 11.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 269 485 Bank branches per 100,000 adults (age 15+) .. 13.3 58.7 Account at a formal financial institution (%, age 15+) .. .. 20.5 Saved at a financial institution in the past year (%, age 15+) .. .. 8.6 Loan from a financial institution in the past year (%, age 15+) .. .. 12.7 Electronic payments used to make payments (%, age 15+) .. .. 1.9 Debit card (%, age 15+) .. .. 14.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.4 Firms with a checking or savings account (%) .. 95.7 87.4 Firms with bank loan/line of credit (%) .. 69.9 66.8 Firms using banks to finance investments (%) .. 30.9 45.9 Firms using banks to finance working capital (%) .. 60.9 49.9 Small firms with bank loan/line of credit (%) .. 60.7 52.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 19.9 38.9 35.8 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 40.8 38.5 38.4 Nonfin. corporate bonds to total bonds and notes outstanding (%) 35.0 25.3 16.9 Efficiency—Financial Institutions Bank net interest margin (%) 6.3 6.5 6.2 Bank lending-deposit spread 17.4 20.7 16.4 Bank overhead costs to total assets (%) 4.6 5.0 4.2 Bank return on assets (%, after tax) 0.6 2.5 2.6 Bank return on equity (%, after tax) 6.4 24.7 26.5 Efficiency—Financial Markets Stock market turnover ratio (%) 7.8 8.9 5.4 Stability—Financial Institutions Bank Z-score 11.5 13.4 13.6 Bank nonperforming loans to gross loans (%) 9.0 4.1 2.5 Bank regulatory capital to risk-weighted assets (%) 12.8 12.5 13.4 Stability—Financial Markets Stock price volatility 15.0 21.2 25.5 Other Indicators—Financial Institutions Bank concentration (%) 68.4 84.3 75.1 Boone indicator –0.04 –0.06 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 7.8 6.9 6.8 Stock market return (%, year-on-year) –15.9 92.6 25.8 162 2014 The Little Data Book on Financial Development East Asia & Pacific Philippines Lower middle income Gross domestic product ($ billions) 224.8 Population (millions) 95.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 33.7 23.4 29.8 Deposit money banks’ assets to GDP (%) 48.4 38.5 44.9 Nonbank financial institutions’ assets to GDP (%) 4.2 4.5 .. Depth—Financial Markets Stock market capitalization to GDP (%) 41.9 45.8 73.9 Stock market total value traded to GDP (%) 6.8 7.7 13.6 Outstanding domestic private debt securities to GDP (%) 0.4 1.0 1.0 Outstanding domestic public debt securities to GDP (%) 27.3 35.7 29.1 Outstanding international debt securities to GDP (%) 22.9 26.3 18.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 395 459 Bank branches per 100,000 adults (age 15+) .. 7.9 8.1 Account at a formal financial institution (%, age 15+) .. .. 26.6 Saved at a financial institution in the past year (%, age 15+) .. .. 14.7 Loan from a financial institution in the past year (%, age 15+) .. .. 10.5 Electronic payments used to make payments (%, age 15+) .. .. 2.1 Debit card (%, age 15+) .. .. 13.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 24.9 Firms with a checking or savings account (%) .. .. 97.8 Firms with bank loan/line of credit (%) .. .. 33.2 Firms using banks to finance investments (%) .. .. 21.9 Firms using banks to finance working capital (%) .. .. 19.1 Small firms with bank loan/line of credit (%) .. .. 21.1 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 36.4 47.4 56.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 38.6 43.8 58.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) 1.7 3.3 5.2 Efficiency—Financial Institutions Bank net interest margin (%) 2.3 3.7 3.7 Bank lending-deposit spread 3.7 4.5 3.3 Bank overhead costs to total assets (%) 2.4 3.4 2.8 Bank return on assets (%, after tax) 0.2 1.2 1.4 Bank return on equity (%, after tax) 1.0 11.2 13.2 Efficiency—Financial Markets Stock market turnover ratio (%) 9.9 20.1 19.8 Stability—Financial Institutions Bank Z-score 35.2 24.2 24.8 Bank nonperforming loans to gross loans (%) 27.7 7.5 3.3 Bank regulatory capital to risk-weighted assets (%) 15.6 17.5 17.4 Stability—Financial Markets Stock price volatility 27.7 18.5 17.4 Other Indicators—Financial Institutions Bank concentration (%) 99.0 39.6 48.4 Boone indicator –0.51 –0.08 –0.06 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.9 2.7 2.8 Stock market return (%, year-on-year) –14.9 19.7 18.9 The Little Data Book on Financial Development 2014 163 Poland High income Gross domestic product ($ billions) data 515.7 Population (millions) data 38.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 26.5 30.1 .. Deposit money banks’ assets to GDP (%) 35.2 41.4 14.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 15.7 36.2 32.6 Stock market total value traded to GDP (%) 6.1 12.6 17.1 Outstanding domestic private debt securities to GDP (%) 0.2 0.7 2.1 Outstanding domestic public debt securities to GDP (%) 24.5 35.1 37.2 Outstanding international debt securities to GDP (%) 5.6 11.0 12.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 27.6 32.3 Account at a formal financial institution (%, age 15+) .. .. 70.2 Saved at a financial institution in the past year (%, age 15+) .. .. 18.0 Loan from a financial institution in the past year (%, age 15+) .. .. 9.6 Electronic payments used to make payments (%, age 15+) .. .. 31.4 Debit card (%, age 15+) .. .. 37.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 67.8 Firms with a checking or savings account (%) .. .. 95.8 Firms with bank loan/line of credit (%) .. .. 50.1 Firms using banks to finance investments (%) 30.0 33.3 40.7 Firms using banks to finance working capital (%) 35.5 28.0 .. Small firms with bank loan/line of credit (%) .. .. 47.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 43.7 44.3 31.8 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 34.5 44.9 46.7 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.5 4.2 3.1 Bank lending-deposit spread 6.6 3.3 .. Bank overhead costs to total assets (%) 3.1 3.7 2.4 Bank return on assets (%, after tax) 0.2 2.0 1.1 Bank return on equity (%, after tax) 2.2 20.1 11.0 Efficiency—Financial Markets Stock market turnover ratio (%) 24.9 44.5 57.0 Stability—Financial Institutions Bank Z-score 9.1 10.5 9.8 Bank nonperforming loans to gross loans (%) 21.1 7.4 8.2 Bank regulatory capital to risk-weighted assets (%) 13.5 13.2 13.1 Stability—Financial Markets Stock price volatility 31.3 21.0 20.6 Other Indicators—Financial Institutions Bank concentration (%) 66.5 54.2 42.2 Boone indicator –0.17 –0.12 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 6.0 7.0 19.6 Stock market return (%, year-on-year) –31.7 38.5 3.2 164 2014 The Little Data Book on Financial Development Portugal High income Gross domestic product ($ billions) 237.6 Population (millions) 10.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 127.0 143.1 193.6 Deposit money banks’ assets to GDP (%) 133.6 149.1 213.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 44.0 42.4 31.5 Stock market total value traded to GDP (%) 33.6 27.7 14.6 Outstanding domestic private debt securities to GDP (%) 22.5 26.9 69.5 Outstanding domestic public debt securities to GDP (%) 27.2 33.9 48.8 Outstanding international debt securities to GDP (%) 33.5 74.1 115.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 70.4 64.2 Account at a formal financial institution (%, age 15+) .. .. 81.2 Saved at a financial institution in the past year (%, age 15+) .. .. 25.6 Loan from a financial institution in the past year (%, age 15+) .. .. 8.3 Electronic payments used to make payments (%, age 15+) .. .. 48.3 Debit card (%, age 15+) .. .. 68.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 78.5 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 24.4 .. Firms using banks to finance working capital (%) .. 20.3 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.6 2.2 1.3 Bank lending-deposit spread 2.8 .. .. Bank overhead costs to total assets (%) 1.2 1.7 1.0 Bank return on assets (%, after tax) 0.4 0.8 –0.3 Bank return on equity (%, after tax) 9.4 13.5 –4.8 Efficiency—Financial Markets Stock market turnover ratio (%) 51.5 82.1 48.3 Stability—Financial Institutions Bank Z-score 13.6 22.6 14.7 Bank nonperforming loans to gross loans (%) 2.2 2.8 6.9 Bank regulatory capital to risk-weighted assets (%) 9.5 11.8 9.3 Stability—Financial Markets Stock price volatility 18.0 8.2 20.6 Other Indicators—Financial Institutions Bank concentration (%) 80.3 86.9 89.3 Boone indicator –0.21 –0.09 –0.04 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 9.4 4.4 4.4 Stock market return (%, year-on-year) –23.1 29.4 –4.6 The Little Data Book on Financial Development 2014 165 Qatar High income Gross domestic product ($ billions) data 173.0 Population (millions) 1.9 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 27.0 30.2 35.5 Deposit money banks’ assets to GDP (%) 55.5 41.4 66.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 125.0 72.2 Stock market total value traded to GDP (%) .. 40.8 12.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 16.4 14.7 20.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 719 673 Bank branches per 100,000 adults (age 15+) .. 19.5 17.8 Account at a formal financial institution (%, age 15+) .. .. 65.9 Saved at a financial institution in the past year (%, age 15+) .. .. 25.4 Loan from a financial institution in the past year (%, age 15+) .. .. 12.6 Electronic payments used to make payments (%, age 15+) .. .. 21.9 Debit card (%, age 15+) .. .. 49.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 63.6 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.0 3.0 3.3 Bank lending-deposit spread .. 2.9 3.7 Bank overhead costs to total assets (%) 1.3 1.4 0.9 Bank return on assets (%, after tax) 1.8 3.3 2.7 Bank return on equity (%, after tax) 13.3 20.8 18.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. 27.2 18.5 Stability—Financial Institutions Bank Z-score 23.5 26.2 27.6 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. 22.8 16.2 Other Indicators—Financial Institutions Bank concentration (%) 92.7 88.4 86.9 Boone indicator 0.05 0.00 0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 37.2 22.0 Stock market return (%, year-on-year) .. 46.7 24.4 166 2014 The Little Data Book on Financial Development Europe & Central Asia Romania Upper middle income Gross domestic product ($ billions) 189.8 Population (millions) 21.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 6.7 21.2 37.1 Deposit money banks’ assets to GDP (%) 10.8 22.6 48.6 Nonbank financial institutions’ assets to GDP (%) .. .. 10.6 Depth—Financial Markets Stock market capitalization to GDP (%) 3.5 22.0 15.0 Stock market total value traded to GDP (%) 0.5 3.2 1.3 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 2.3 2.9 2.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 44.6 Saved at a financial institution in the past year (%, age 15+) .. .. 8.7 Loan from a financial institution in the past year (%, age 15+) .. .. 8.4 Electronic payments used to make payments (%, age 15+) .. .. 10.5 Debit card (%, age 15+) .. .. 27.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 39.2 Firms with a checking or savings account (%) .. .. 50.4 Firms with bank loan/line of credit (%) .. .. 42.3 Firms using banks to finance investments (%) 20.6 31.4 37.3 Firms using banks to finance working capital (%) 26.3 36.0 .. Small firms with bank loan/line of credit (%) .. .. 34.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.8 5.5 5.0 Bank lending-deposit spread 18.5 9.2 5.8 Bank overhead costs to total assets (%) 6.1 4.3 3.3 Bank return on assets (%, after tax) 2.8 1.7 0.3 Bank return on equity (%, after tax) 16.0 17.2 2.7 Efficiency—Financial Markets Stock market turnover ratio (%) 18.1 15.8 11.3 Stability—Financial Institutions Bank Z-score 21.1 11.4 11.4 Bank nonperforming loans to gross loans (%) 8.3 1.8 14.1 Bank regulatory capital to risk-weighted assets (%) 28.8 18.1 13.4 Stability—Financial Markets Stock price volatility 41.0 28.6 26.5 Other Indicators—Financial Institutions Bank concentration (%) 72.0 75.4 57.3 Boone indicator –0.09 –0.05 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 232.2 114.8 59.2 Stock market return (%, year-on-year) 20.0 35.8 –0.9 The Little Data Book on Financial Development 2014 167 Russian Federation High income data Gross domestic product ($ billions) 1,899.1 Population (millions) data 143.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 13.7 26.0 40.8 Deposit money banks’ assets to GDP (%) 21.0 29.5 45.6 Nonbank financial institutions’ assets to GDP (%) .. 3.0 1.9 Depth—Financial Markets Stock market capitalization to GDP (%) 18.5 82.7 49.2 Stock market total value traded to GDP (%) 7.1 34.2 52.4 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) 2.2 3.0 4.3 Outstanding international debt securities to GDP (%) 12.6 8.3 9.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 30.5 37.1 Account at a formal financial institution (%, age 15+) .. .. 48.2 Saved at a financial institution in the past year (%, age 15+) .. .. 10.9 Loan from a financial institution in the past year (%, age 15+) .. .. 7.7 Electronic payments used to make payments (%, age 15+) .. .. 7.7 Debit card (%, age 15+) .. .. 37.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 45.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) 10.9 15.8 .. Firms using banks to finance working capital (%) 15.7 22.3 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. 6.7 4.0 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. 30.8 37.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 32.3 32.7 Efficiency—Financial Institutions Bank net interest margin (%) 5.5 5.1 4.0 Bank lending-deposit spread 13.1 6.4 4.0 Bank overhead costs to total assets (%) 4.0 7.0 15.7 Bank return on assets (%, after tax) 2.1 2.3 1.3 Bank return on equity (%, after tax) 5.3 17.0 10.0 Efficiency—Financial Markets Stock market turnover ratio (%) 40.4 62.9 122.8 Stability—Financial Institutions Bank Z-score 11.0 7.8 6.6 Bank nonperforming loans to gross loans (%) 6.2 2.4 6.6 Bank regulatory capital to risk-weighted assets (%) 20.3 14.9 14.7 Stability—Financial Markets Stock price volatility 44.2 32.7 24.5 Other Indicators—Financial Institutions Bank concentration (%) 52.4 23.0 31.7 Boone indicator –0.06 –0.04 –0.01 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 1.6 2.2 2.3 Stock market return (%, year-on-year) –9.3 90.9 11.5 168 2014 The Little Data Book on Financial Development Sub-Saharan Africa Rwanda Low income Gross domestic product ($ billions) 6.4 Population (millions) 11.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 9.8 10.2 .. Deposit money banks’ assets to GDP (%) 10.8 11.7 .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 10 171 Bank branches per 100,000 adults (age 15+) .. 0.7 5.5 Account at a formal financial institution (%, age 15+) .. .. 32.8 Saved at a financial institution in the past year (%, age 15+) .. .. 17.8 Loan from a financial institution in the past year (%, age 15+) .. .. 8.4 Electronic payments used to make payments (%, age 15+) .. .. 0.3 Debit card (%, age 15+) .. .. 5.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 30.6 Firms with a checking or savings account (%) .. 82.7 71.2 Firms with bank loan/line of credit (%) .. 37.6 45.5 Firms using banks to finance investments (%) .. 15.9 23.3 Firms using banks to finance working capital (%) .. 32.5 43.9 Small firms with bank loan/line of credit (%) .. 22.0 38.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 13.5 8.3 9.9 Bank lending-deposit spread 7.1 7.8 9.6 Bank overhead costs to total assets (%) 8.0 6.8 8.5 Bank return on assets (%, after tax) 4.3 2.4 2.3 Bank return on equity (%, after tax) 56.6 29.6 14.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 5.7 5.0 9.0 Bank nonperforming loans to gross loans (%) 74.1 25.0 8.0 Bank regulatory capital to risk-weighted assets (%) 16.6 13.7 27.2 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 85.2 68.4 Boone indicator –0.22 –0.18 –0.16 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 169 Samoa East Asia & Pacific Lower middle income Gross domestic product ($ millions) data 634.2 Population (thousands) data 187.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 30.0 38.8 44.6 Deposit money banks’ assets to GDP (%) 32.8 42.3 50.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) 265 569 816 Bank branches per 100,000 adults (age 15+) 9.5 21.0 18.4 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 97.0 Firms with bank loan/line of credit (%) .. .. 51.3 Firms using banks to finance investments (%) .. .. 48.3 Firms using banks to finance working capital (%) .. .. 68.7 Small firms with bank loan/line of credit (%) .. .. 45.3 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.4 7.0 6.3 Bank lending-deposit spread 6.9 6.9 7.7 Bank overhead costs to total assets (%) 2.0 4.9 4.3 Bank return on assets (%, after tax) 1.4 4.1 3.8 Bank return on equity (%, after tax) 10.0 23.5 17.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 11.0 16.9 21.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 100.0 .. Boone indicator –0.04 –0.03 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 170 2014 The Little Data Book on Financial Development San Marino High income Gross domestic product ($ billions) 1.9 Population (thousands) 31.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.8 2.1 1.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 0.8 1.0 2.4 Bank return on assets (%, after tax) 1.3 0.9 –0.6 Bank return on equity (%, after tax) 20.5 11.6 –6.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 9.0 10.4 11.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 80.5 75.7 Boone indicator 0.00 –0.07 –0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 171 São Tomé and Príncipe Sub-Saharan Africa Lower middle income Gross domestic product ($ millions) data 248.3 Population (thousands) data 183.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.1 25.5 35.0 Deposit money banks’ assets to GDP (%) 4.1 25.9 36.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. 471 Bank branches per 100,000 adults (age 15+) .. 6.7 23.4 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.5 .. .. Bank lending-deposit spread 22.0 18.6 14.6 Bank overhead costs to total assets (%) 8.0 12.4 .. Bank return on assets (%, after tax) –1.1 –14.9 .. Bank return on equity (%, after tax) –3.7 –92.3 .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator –0.13 –0.26 –0.48 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 172 2014 The Little Data Book on Financial Development Saudi Arabia High income Gross domestic product ($ billions) 576.8 Population (millions) 27.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 26.1 34.0 37.7 Deposit money banks’ assets to GDP (%) 44.9 45.9 47.5 Nonbank financial institutions’ assets to GDP (%) 28.7 14.0 14.7 Depth—Financial Markets Stock market capitalization to GDP (%) 38.3 136.3 60.1 Stock market total value traded to GDP (%) 10.8 349.2 42.8 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 536 749 Bank branches per 100,000 adults (age 15+) .. 7.8 8.7 Account at a formal financial institution (%, age 15+) .. .. 46.4 Saved at a financial institution in the past year (%, age 15+) .. .. 17.2 Loan from a financial institution in the past year (%, age 15+) .. .. 2.1 Electronic payments used to make payments (%, age 15+) .. .. 22.6 Debit card (%, age 15+) .. .. 42.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 46.2 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. 56.7 67.1 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. 39.1 41.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.6 3.7 2.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 1.6 1.6 1.4 Bank return on assets (%, after tax) 2.1 4.2 2.0 Bank return on equity (%, after tax) 21.0 32.6 14.6 Efficiency—Financial Markets Stock market turnover ratio (%) 31.7 288.7 84.6 Stability—Financial Institutions Bank Z-score 11.5 15.9 14.7 Bank nonperforming loans to gross loans (%) 10.1 2.0 3.0 Bank regulatory capital to risk-weighted assets (%) 20.3 21.9 17.3 Stability—Financial Markets Stock price volatility 11.4 37.0 19.2 Other Indicators—Financial Institutions Bank concentration (%) 59.2 52.5 55.3 Boone indicator –0.06 –0.07 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.6 3.4 5.4 Stock market return (%, year-on-year) 9.5 0.7 –0.2 The Little Data Book on Financial Development 2014 173 Senegal Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) data 14.4 Population (millions) data 13.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 17.8 22.1 27.0 Deposit money banks’ assets to GDP (%) 20.6 24.3 31.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 3.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 5.8 Saved at a financial institution in the past year (%, age 15+) .. .. 3.7 Loan from a financial institution in the past year (%, age 15+) .. .. 3.5 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 1.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 5.8 Firms with a checking or savings account (%) .. 83.4 .. Firms with bank loan/line of credit (%) .. 15.3 .. Firms using banks to finance investments (%) .. 19.8 .. Firms using banks to finance working capital (%) .. 9.6 .. Small firms with bank loan/line of credit (%) .. 10.8 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.5 6.1 3.4 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.4 4.5 4.3 Bank return on assets (%, after tax) 1.8 2.0 1.1 Bank return on equity (%, after tax) 19.9 22.6 10.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 35.9 35.8 36.2 Bank nonperforming loans to gross loans (%) 17.8 16.8 20.2 Bank regulatory capital to risk-weighted assets (%) 16.8 13.1 18.2 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 66.7 67.2 69.3 Boone indicator –0.06 –0.07 –0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 174 2014 The Little Data Book on Financial Development Europe & Central Asia Serbia Upper middle income Gross domestic product ($ billions) 43.3 Population (millions) 7.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 30.7 27.3 50.3 Deposit money banks’ assets to GDP (%) 35.1 29.5 59.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 5.7 28.1 22.1 Stock market total value traded to GDP (%) 0.0 3.4 0.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 7.4 9.6 Account at a formal financial institution (%, age 15+) .. .. 62.2 Saved at a financial institution in the past year (%, age 15+) .. .. 3.2 Loan from a financial institution in the past year (%, age 15+) .. .. 12.3 Electronic payments used to make payments (%, age 15+) .. .. 9.6 Debit card (%, age 15+) .. .. 43.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 59.8 Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 67.6 Firms using banks to finance investments (%) 9.8 30.2 42.8 Firms using banks to finance working capital (%) 11.5 29.9 .. Small firms with bank loan/line of credit (%) .. .. 60.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 6.4 8.5 5.4 Bank lending-deposit spread 30.4 11.5 7.4 Bank overhead costs to total assets (%) 8.7 12.4 10.6 Bank return on assets (%, after tax) –0.1 2.0 1.0 Bank return on equity (%, after tax) –0.9 10.6 5.0 Efficiency—Financial Markets Stock market turnover ratio (%) 48.5 16.3 3.5 Stability—Financial Institutions Bank Z-score 11.5 16.6 16.7 Bank nonperforming loans to gross loans (%) 21.6 8.4 18.8 Bank regulatory capital to risk-weighted assets (%) 25.6 24.7 19.7 Stability—Financial Markets Stock price volatility .. 19.2 17.3 Other Indicators—Financial Institutions Bank concentration (%) 64.8 42.7 38.0 Boone indicator –0.13 –0.26 –0.48 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.9 149.9 182.1 Stock market return (%, year-on-year) .. 20.8 1.5 The Little Data Book on Financial Development 2014 175 Seychelles Sub-Saharan Africa Upper middle income Gross domestic product ($ billions) 1.1 data Population (thousands) 87.4 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 17.5 22.8 23.1 Deposit money banks’ assets to GDP (%) 101.2 72.4 40.8 Nonbank financial institutions’ assets to GDP (%) 9.7 10.9 7.0 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 18.7 18.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 395 578 Bank branches per 100,000 adults (age 15+) .. 30.7 37.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 3.6 2.3 Bank lending-deposit spread 5.7 7.6 9.1 Bank overhead costs to total assets (%) .. 1.6 1.3 Bank return on assets (%, after tax) .. 2.2 1.2 Bank return on equity (%, after tax) .. 39.0 11.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 10.3 14.6 Bank nonperforming loans to gross loans (%) .. 4.4 8.1 Bank regulatory capital to risk-weighted assets (%) .. 19.6 24.2 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. 98.4 Boone indicator .. .. 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 176 2014 The Little Data Book on Financial Development Sub-Saharan Africa Sierra Leone Low income Gross domestic product ($ billions) 2.9 Population (millions) 5.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 3.8 9.3 Deposit money banks’ assets to GDP (%) .. 7.9 15.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 61 154 Bank branches per 100,000 adults (age 15+) .. 1.4 3.0 Account at a formal financial institution (%, age 15+) .. .. 15.3 Saved at a financial institution in the past year (%, age 15+) .. .. 14.5 Loan from a financial institution in the past year (%, age 15+) .. .. 6.1 Electronic payments used to make payments (%, age 15+) .. .. 1.1 Debit card (%, age 15+) .. .. 4.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 14.9 Firms with a checking or savings account (%) .. .. 67.8 Firms with bank loan/line of credit (%) .. .. 17.4 Firms using banks to finance investments (%) .. .. 6.9 Firms using banks to finance working capital (%) .. .. 24.6 Small firms with bank loan/line of credit (%) .. .. 14.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 10.0 12.4 12.7 Bank lending-deposit spread 16.6 13.6 11.2 Bank overhead costs to total assets (%) 8.5 10.3 10.2 Bank return on assets (%, after tax) 7.7 3.7 2.5 Bank return on equity (%, after tax) 42.1 21.9 20.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.2 5.6 4.0 Bank nonperforming loans to gross loans (%) 11.0 26.9 15.1 Bank regulatory capital to risk-weighted assets (%) 32.5 33.3 27.0 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 91.7 83.5 75.3 Boone indicator –0.19 –0.09 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 177 Singapore High income Gross domestic product ($ billions) data 245.0 Population (millions) 5.2 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 109.8 83.7 104.2 Deposit money banks’ assets to GDP (%) 133.5 104.1 131.4 Nonbank financial institutions’ assets to GDP (%) 8.9 3.4 2.7 Depth—Financial Markets Stock market capitalization to GDP (%) 147.5 214.3 145.2 Stock market total value traded to GDP (%) 84.5 109.6 114.4 Outstanding domestic private debt securities to GDP (%) 20.6 16.7 10.0 Outstanding domestic public debt securities to GDP (%) 29.5 37.1 45.4 Outstanding international debt securities to GDP (%) 21.2 30.7 30.5 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 2,043 2,217 Bank branches per 100,000 adults (age 15+) .. 11.2 10.2 Account at a formal financial institution (%, age 15+) .. .. 98.2 Saved at a financial institution in the past year (%, age 15+) .. .. 58.4 Loan from a financial institution in the past year (%, age 15+) .. .. 10.0 Electronic payments used to make payments (%, age 15+) .. .. 41.5 Debit card (%, age 15+) .. .. 28.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 92.3 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 72.1 62.4 71.4 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 40.0 62.5 74.3 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.9 1.9 1.6 Bank lending-deposit spread 4.1 4.7 5.2 Bank overhead costs to total assets (%) 0.2 1.0 0.9 Bank return on assets (%, after tax) 0.5 1.5 1.1 Bank return on equity (%, after tax) 6.8 13.9 9.7 Efficiency—Financial Markets Stock market turnover ratio (%) 47.1 61.9 71.3 Stability—Financial Institutions Bank Z-score 9.3 27.9 26.1 Bank nonperforming loans to gross loans (%) 8.0 2.8 1.2 Bank regulatory capital to risk-weighted assets (%) 18.2 15.4 16.0 Stability—Financial Markets Stock price volatility 22.8 11.6 14.3 Other Indicators—Financial Institutions Bank concentration (%) 97.8 85.2 90.9 Boone indicator 0.01 –0.04 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 93.3 104.7 89.1 Stock market return (%, year-on-year) –21.9 15.8 0.2 178 2014 The Little Data Book on Financial Development Slovak Republic High income Gross domestic product ($ billions) 96.1 Population (millions) 5.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 43.2 35.4 48.2 Deposit money banks’ assets to GDP (%) 80.5 51.5 66.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 4.6 7.3 4.8 Stock market total value traded to GDP (%) 3.1 0.1 0.2 Outstanding domestic private debt securities to GDP (%) .. 3.1 5.0 Outstanding domestic public debt securities to GDP (%) 15.8 19.6 29.3 Outstanding international debt securities to GDP (%) 9.6 5.0 14.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 26.3 25.8 Account at a formal financial institution (%, age 15+) .. .. 79.6 Saved at a financial institution in the past year (%, age 15+) .. .. 36.8 Loan from a financial institution in the past year (%, age 15+) .. .. 11.4 Electronic payments used to make payments (%, age 15+) .. .. 43.4 Debit card (%, age 15+) .. .. 68.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 77.9 Firms with a checking or savings account (%) .. .. 18.0 Firms with bank loan/line of credit (%) .. .. 42.4 Firms using banks to finance investments (%) 13.0 23.8 33.5 Firms using banks to finance working capital (%) 21.0 34.0 .. Small firms with bank loan/line of credit (%) .. .. 35.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.3 2.5 4.5 Bank lending-deposit spread 4.8 4.1 .. Bank overhead costs to total assets (%) 9.9 2.4 2.5 Bank return on assets (%, after tax) 1.1 0.7 0.2 Bank return on equity (%, after tax) 15.4 13.6 2.4 Efficiency—Financial Markets Stock market turnover ratio (%) 69.2 1.8 5.9 Stability—Financial Institutions Bank Z-score 17.9 11.9 21.1 Bank nonperforming loans to gross loans (%) 12.3 3.2 5.6 Bank regulatory capital to risk-weighted assets (%) 19.8 13.0 13.4 Stability—Financial Markets Stock price volatility 22.8 18.4 21.6 Other Indicators—Financial Institutions Bank concentration (%) 74.2 59.1 74.2 Boone indicator –0.11 –0.11 –0.08 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 95.7 32.1 15.0 Stock market return (%, year-on-year) 23.7 –8.5 1.1 The Little Data Book on Financial Development 2014 179 Slovenia High income Gross domestic product ($ billions) data 50.3 Population (millions) 2.1 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 35.2 59.1 91.5 Deposit money banks’ assets to GDP (%) 45.6 69.9 103.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 12.7 29.7 16.4 Stock market total value traded to GDP (%) 3.0 2.3 0.8 Outstanding domestic private debt securities to GDP (%) 2.4 5.3 7.3 Outstanding domestic public debt securities to GDP (%) 8.3 18.3 10.5 Outstanding international debt securities to GDP (%) 8.6 6.2 38.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 39.8 38.3 Account at a formal financial institution (%, age 15+) .. .. 97.1 Saved at a financial institution in the past year (%, age 15+) .. .. 28.9 Loan from a financial institution in the past year (%, age 15+) .. .. 12.8 Electronic payments used to make payments (%, age 15+) .. .. 40.6 Debit card (%, age 15+) .. .. 91.9 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 95.3 Firms with a checking or savings account (%) .. .. 99.9 Firms with bank loan/line of credit (%) .. .. 71.2 Firms using banks to finance investments (%) 13.6 47.3 52.2 Firms using banks to finance working capital (%) 14.7 42.8 .. Small firms with bank loan/line of credit (%) .. .. 66.4 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 38.4 53.8 5.8 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 42.5 25.2 19.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.7 2.6 2.2 Bank lending-deposit spread 5.2 4.6 4.5 Bank overhead costs to total assets (%) 3.1 2.7 1.9 Bank return on assets (%, after tax) 0.6 1.0 –1.0 Bank return on equity (%, after tax) 6.5 12.4 –12.6 Efficiency—Financial Markets Stock market turnover ratio (%) 30.5 8.8 6.2 Stability—Financial Institutions Bank Z-score 14.9 14.2 10.9 Bank nonperforming loans to gross loans (%) 3.9 2.5 11.8 Bank regulatory capital to risk-weighted assets (%) 11.9 11.0 11.9 Stability—Financial Markets Stock price volatility .. 11.4 13.4 Other Indicators—Financial Institutions Bank concentration (%) 75.3 55.6 53.3 Boone indicator –0.13 –0.12 –0.06 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 19.1 49.8 32.2 Stock market return (%, year-on-year) .. 33.2 –18.3 180 2014 The Little Data Book on Financial Development East Asia & Pacific Solomon Islands Lower middle income Gross domestic product ($ millions) 866.7 Population (thousands) 538.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.1 15.7 19.2 Deposit money banks’ assets to GDP (%) 20.8 19.8 21.0 Nonbank financial institutions’ assets to GDP (%) 24.4 23.9 17.9 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 9.1 7.1 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 6.9 .. Bank lending-deposit spread 13.4 13.2 11.2 Bank overhead costs to total assets (%) .. 5.7 .. Bank return on assets (%, after tax) .. 2.7 .. Bank return on equity (%, after tax) .. 13.0 .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 181 Somalia Sub-Saharan Africa Low income Gross domestic product ($ millions) .. data Population (millions) 9.9 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 31.0 Saved at a financial institution in the past year (%, age 15+) .. .. 13.6 Loan from a financial institution in the past year (%, age 15+) .. .. 1.6 Electronic payments used to make payments (%, age 15+) .. .. 21.5 Debit card (%, age 15+) .. .. 15.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 30.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 182 2014 The Little Data Book on Financial Development Sub-Saharan Africa South Africa Upper middle income Gross domestic product ($ billions) 401.8 Population (millions) 50.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 69.8 68.8 67.7 Deposit money banks’ assets to GDP (%) 75.4 75.3 78.8 Nonbank financial institutions’ assets to GDP (%) 127.7 200.3 195.3 Depth—Financial Markets Stock market capitalization to GDP (%) 130.0 238.9 145.2 Stock market total value traded to GDP (%) 56.2 95.8 89.0 Outstanding domestic private debt securities to GDP (%) 9.5 15.9 18.8 Outstanding domestic public debt securities to GDP (%) 29.9 27.2 31.4 Outstanding international debt securities to GDP (%) 7.0 11.4 11.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 7.4 10.7 Account at a formal financial institution (%, age 15+) .. .. 53.6 Saved at a financial institution in the past year (%, age 15+) .. .. 22.1 Loan from a financial institution in the past year (%, age 15+) .. .. 8.9 Electronic payments used to make payments (%, age 15+) .. .. 13.1 Debit card (%, age 15+) .. .. 45.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 52.5 Firms with a checking or savings account (%) .. 97.9 .. Firms with bank loan/line of credit (%) .. 30.1 .. Firms using banks to finance investments (%) .. 34.8 .. Firms using banks to finance working capital (%) .. 21.1 .. Small firms with bank loan/line of credit (%) .. 22.9 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 61.8 51.4 87.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 55.6 76.0 74.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) 12.4 12.0 13.1 Efficiency—Financial Institutions Bank net interest margin (%) 3.5 3.4 2.8 Bank lending-deposit spread 4.4 4.0 3.3 Bank overhead costs to total assets (%) 2.8 3.8 2.9 Bank return on assets (%, after tax) 0.3 1.6 1.1 Bank return on equity (%, after tax) 3.1 28.0 15.8 Efficiency—Financial Markets Stock market turnover ratio (%) 45.2 50.1 63.8 Stability—Financial Institutions Bank Z-score 10.1 8.5 9.4 Bank nonperforming loans to gross loans (%) 3.1 1.1 4.7 Bank regulatory capital to risk-weighted assets (%) 11.4 12.3 14.9 Stability—Financial Markets Stock price volatility 19.9 17.7 17.1 Other Indicators—Financial Institutions Bank concentration (%) 89.0 77.3 77.7 Boone indicator –0.10 –0.12 –0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 12.1 8.4 7.0 Stock market return (%, year-on-year) 11.2 43.6 10.6 The Little Data Book on Financial Development 2014 183 Spain High income data Gross domestic product ($ billions) 1,476.9 Population (millions) data 46.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 96.2 150.8 207.8 Deposit money banks’ assets to GDP (%) 115.2 163.1 232.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 79.0 92.6 76.5 Stock market total value traded to GDP (%) 148.3 141.6 96.2 Outstanding domestic private debt securities to GDP (%) 11.4 41.6 54.5 Outstanding domestic public debt securities to GDP (%) 42.7 29.7 45.3 Outstanding international debt securities to GDP (%) 34.9 74.9 124.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 102.7 89.7 Account at a formal financial institution (%, age 15+) .. .. 93.3 Saved at a financial institution in the past year (%, age 15+) .. .. 35.0 Loan from a financial institution in the past year (%, age 15+) .. .. 11.4 Electronic payments used to make payments (%, age 15+) .. .. 43.4 Debit card (%, age 15+) .. .. 62.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 91.8 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. 32.6 .. Firms using banks to finance working capital (%) .. 35.8 .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 18.5 47.8 13.8 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 39.9 56.0 62.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.4 1.7 1.6 Bank lending-deposit spread 2.1 .. .. Bank overhead costs to total assets (%) 2.3 1.2 1.1 Bank return on assets (%, after tax) 0.5 1.0 0.0 Bank return on equity (%, after tax) 6.4 14.6 –0.3 Efficiency—Financial Markets Stock market turnover ratio (%) 174.2 168.6 125.6 Stability—Financial Institutions Bank Z-score 26.5 22.1 18.9 Bank nonperforming loans to gross loans (%) 1.2 0.7 5.3 Bank regulatory capital to risk-weighted assets (%) 12.9 11.9 11.8 Stability—Financial Markets Stock price volatility 24.8 11.4 27.6 Other Indicators—Financial Institutions Bank concentration (%) 65.0 69.3 67.5 Boone indicator 0.38 0.06 0.10 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 35.8 75.7 70.2 Stock market return (%, year-on-year) –19.6 23.4 –8.2 184 2014 The Little Data Book on Financial Development South Asia Sri Lanka Lower middle income Gross domestic product ($ billions) 59.2 Population (millions) 20.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 27.5 30.6 26.7 Deposit money banks’ assets to GDP (%) 35.1 38.4 35.9 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 7.3 23.3 33.8 Stock market total value traded to GDP (%) 0.9 3.7 7.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 2.2 1.8 4.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 11.7 16.7 Account at a formal financial institution (%, age 15+) .. .. 68.5 Saved at a financial institution in the past year (%, age 15+) .. .. 28.1 Loan from a financial institution in the past year (%, age 15+) .. .. 17.7 Electronic payments used to make payments (%, age 15+) .. .. 0.5 Debit card (%, age 15+) .. .. 10.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 59.2 Firms with a checking or savings account (%) .. .. 89.4 Firms with bank loan/line of credit (%) .. .. 40.4 Firms using banks to finance investments (%) .. .. 43.6 Firms using banks to finance working capital (%) .. .. 40.6 Small firms with bank loan/line of credit (%) .. .. 35.0 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 47.3 42.9 80.9 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 62.7 44.3 63.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.5 4.8 4.9 Bank lending-deposit spread 8.4 6.0 3.0 Bank overhead costs to total assets (%) 3.6 4.0 3.3 Bank return on assets (%, after tax) 0.4 0.9 1.6 Bank return on equity (%, after tax) 7.7 18.1 23.3 Efficiency—Financial Markets Stock market turnover ratio (%) 13.4 15.2 24.7 Stability—Financial Institutions Bank Z-score 6.4 10.0 14.2 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility 13.4 21.8 16.8 Other Indicators—Financial Institutions Bank concentration (%) 73.5 64.6 65.3 Boone indicator –0.21 –0.18 –0.18 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 12.7 11.9 12.1 Stock market return (%, year-on-year) –11.2 15.0 36.9 The Little Data Book on Financial Development 2014 185 St. Kitts and Nevis High income Gross domestic product ($ millions) data 748.1 Population (thousands) data 53.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 55.4 50.6 68.4 Deposit money banks’ assets to GDP (%) 93.2 104.2 134.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 46.5 81.1 Stock market total value traded to GDP (%) .. 0.1 0.7 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 44.2 37.7 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 49.3 Firms using banks to finance investments (%) .. .. 46.4 Firms using banks to finance working capital (%) .. .. 52.0 Small firms with bank loan/line of credit (%) .. .. 48.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.3 2.9 1.4 Bank lending-deposit spread 6.9 4.7 5.0 Bank overhead costs to total assets (%) 3.3 1.8 1.5 Bank return on assets (%, after tax) 2.0 2.9 1.9 Bank return on equity (%, after tax) 21.7 24.3 9.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. 0.3 0.9 Stability—Financial Institutions Bank Z-score 10.8 14.8 20.6 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator –0.06 0.00 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 140.5 207.7 Stock market return (%, year-on-year) .. .. .. 186 2014 The Little Data Book on Financial Development Latin America & Caribbean St. Lucia Upper middle income Gross domestic product ($ billions) 1.2 Population (thousands) 179.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 80.5 78.0 112.6 Deposit money banks’ assets to GDP (%) 90.9 92.3 125.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 24.2 22.5 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 24.5 Firms using banks to finance investments (%) .. .. 52.2 Firms using banks to finance working capital (%) .. .. 49.1 Small firms with bank loan/line of credit (%) .. .. 15.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.8 4.8 2.7 Bank lending-deposit spread 8.1 7.8 7.0 Bank overhead costs to total assets (%) 2.5 3.4 2.3 Bank return on assets (%, after tax) 1.3 2.4 –0.2 Bank return on equity (%, after tax) 11.7 21.9 –1.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 13.7 13.9 12.7 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. 100.0 Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 187 St. Vincent and Grenadines Latin America & Caribbean Upper middle income Gross domestic product ($ millions) data 691.1 Population (thousands) data 109.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 51.6 43.9 52.0 Deposit money banks’ assets to GDP (%) 64.2 59.6 61.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. 21.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 98.5 Firms with bank loan/line of credit (%) .. .. 56.5 Firms using banks to finance investments (%) .. .. 55.8 Firms using banks to finance working capital (%) .. .. 52.7 Small firms with bank loan/line of credit (%) .. .. 58.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 4.7 4.2 Bank lending-deposit spread 7.1 6.8 6.1 Bank overhead costs to total assets (%) .. 3.6 3.8 Bank return on assets (%, after tax) .. 2.2 0.1 Bank return on equity (%, after tax) .. 21.1 1.3 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 188 2014 The Little Data Book on Financial Development Sub-Saharan Africa Sudan Lower middle income Gross domestic product ($ billions) 64.1 Population (millions) 36.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 2.1 8.5 10.9 Deposit money banks’ assets to GDP (%) 2.5 10.2 15.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 1.8 2.4 Account at a formal financial institution (%, age 15+) .. .. 6.9 Saved at a financial institution in the past year (%, age 15+) .. .. 3.4 Loan from a financial institution in the past year (%, age 15+) .. .. 1.8 Electronic payments used to make payments (%, age 15+) .. .. 2.1 Debit card (%, age 15+) .. .. 3.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 6.3 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.4 0.9 4.4 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 10.7 0.8 3.2 Bank return on assets (%, after tax) 0.5 0.1 2.4 Bank return on equity (%, after tax) 5.8 1.3 19.1 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 16.4 6.9 16.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 98.3 88.6 78.6 Boone indicator 0.02 0.03 0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 189 Suriname Latin America & Caribbean Upper middle income Gross domestic product ($ billions) 4.3 data Population (thousands) data 529.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 6.6 14.7 22.9 Deposit money banks’ assets to GDP (%) 11.1 17.9 24.6 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 10.4 11.2 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 44.3 Firms using banks to finance investments (%) .. .. 37.0 Firms using banks to finance working capital (%) .. .. 57.6 Small firms with bank loan/line of credit (%) .. .. 44.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.4 7.0 4.3 Bank lending-deposit spread 13.9 9.0 5.4 Bank overhead costs to total assets (%) 7.5 4.3 2.4 Bank return on assets (%, after tax) 0.7 2.0 1.1 Bank return on equity (%, after tax) 12.6 29.5 16.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 10.7 15.7 14.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 97.3 100.0 Boone indicator 0.00 –0.04 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 190 2014 The Little Data Book on Financial Development Sub-Saharan Africa Swaziland Lower middle income Gross domestic product ($ billions) 4.0 Population (millions) 1.2 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.1 19.2 24.3 Deposit money banks’ assets to GDP (%) 12.0 21.2 27.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 6.9 6.5 .. Stock market total value traded to GDP (%) 0.4 0.0 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 404 519 Bank branches per 100,000 adults (age 15+) .. 6.5 7.2 Account at a formal financial institution (%, age 15+) .. .. 28.6 Saved at a financial institution in the past year (%, age 15+) .. .. 17.8 Loan from a financial institution in the past year (%, age 15+) .. .. 11.5 Electronic payments used to make payments (%, age 15+) .. .. 4.7 Debit card (%, age 15+) .. .. 21.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 28.2 Firms with a checking or savings account (%) .. 97.8 .. Firms with bank loan/line of credit (%) .. 21.9 .. Firms using banks to finance investments (%) .. 7.7 .. Firms using banks to finance working capital (%) .. 16.0 .. Small firms with bank loan/line of credit (%) .. 21.3 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.6 6.4 5.7 Bank lending-deposit spread 7.1 6.2 6.2 Bank overhead costs to total assets (%) 5.8 7.3 5.5 Bank return on assets (%, after tax) 0.8 2.2 2.8 Bank return on equity (%, after tax) 7.6 16.5 17.8 Efficiency—Financial Markets Stock market turnover ratio (%) 10.7 0.0 .. Stability—Financial Institutions Bank Z-score 4.6 13.5 17.2 Bank nonperforming loans to gross loans (%) 2.0 7.7 7.5 Bank regulatory capital to risk-weighted assets (%) 14.0 26.3 18.9 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 81.0 100.0 Boone indicator –0.86 –0.43 –0.30 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.7 5.4 4.1 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 191 Sweden High income Gross domestic product ($ billions) data 539.3 Population (millions) 9.4 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 69.3 107.1 .. Deposit money banks’ assets to GDP (%) 77.2 116.1 9.4 Nonbank financial institutions’ assets to GDP (%) 60.1 .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 116.8 123.1 103.7 Stock market total value traded to GDP (%) 143.3 143.7 92.2 Outstanding domestic private debt securities to GDP (%) 35.5 43.1 55.2 Outstanding domestic public debt securities to GDP (%) 39.5 37.6 25.9 Outstanding international debt securities to GDP (%) 43.3 49.0 82.9 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 23.7 22.5 Account at a formal financial institution (%, age 15+) .. .. 99.0 Saved at a financial institution in the past year (%, age 15+) .. .. 63.6 Loan from a financial institution in the past year (%, age 15+) .. .. 23.4 Electronic payments used to make payments (%, age 15+) .. .. 84.9 Debit card (%, age 15+) .. .. 95.5 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 98.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) 7.6 4.8 2.2 Efficiency—Financial Institutions Bank net interest margin (%) 1.3 1.0 1.5 Bank lending-deposit spread 3.5 2.5 .. Bank overhead costs to total assets (%) 1.4 1.2 1.2 Bank return on assets (%, after tax) 1.0 0.7 0.5 Bank return on equity (%, after tax) 28.6 18.6 11.0 Efficiency—Financial Markets Stock market turnover ratio (%) 113.6 137.9 90.4 Stability—Financial Institutions Bank Z-score 19.3 18.8 21.5 Bank nonperforming loans to gross loans (%) 1.5 0.8 2.0 Bank regulatory capital to risk-weighted assets (%) 7.0 10.0 12.7 Stability—Financial Markets Stock price volatility 32.8 14.9 21.0 Other Indicators—Financial Institutions Bank concentration (%) 92.8 94.2 94.0 Boone indicator –0.06 –0.06 –0.05 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 32.0 35.4 36.0 Stock market return (%, year-on-year) –32.8 22.0 0.6 192 2014 The Little Data Book on Financial Development Switzerland High income Gross domestic product ($ billions) 659.3 Population (millions) 7.9 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 150.4 157.2 167.1 Deposit money banks’ assets to GDP (%) 163.5 168.2 180.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 271.5 265.3 179.5 Stock market total value traded to GDP (%) 174.4 267.6 147.5 Outstanding domestic private debt securities to GDP (%) 39.9 27.3 29.5 Outstanding domestic public debt securities to GDP (%) 21.3 27.9 21.2 Outstanding international debt securities to GDP (%) 41.6 80.3 79.8 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 55.6 51.0 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 21.3 33.4 32.5 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 20.6 33.7 35.6 Nonfin. corporate bonds to total bonds and notes outstanding (%) 8.9 8.7 8.7 Efficiency—Financial Institutions Bank net interest margin (%) 1.2 0.6 0.6 Bank lending-deposit spread 2.6 1.6 2.7 Bank overhead costs to total assets (%) 1.9 1.6 1.5 Bank return on assets (%, after tax) 0.6 0.6 0.4 Bank return on equity (%, after tax) 11.7 13.7 8.6 Efficiency—Financial Markets Stock market turnover ratio (%) 42.2 119.7 78.4 Stability—Financial Institutions Bank Z-score 7.8 6.7 8.3 Bank nonperforming loans to gross loans (%) 2.3 0.3 0.9 Bank regulatory capital to risk-weighted assets (%) 12.4 13.4 17.3 Stability—Financial Markets Stock price volatility 16.9 11.1 16.3 Other Indicators—Financial Institutions Bank concentration (%) 88.3 91.9 87.0 Boone indicator –0.07 –0.06 –0.04 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 36.4 34.2 31.1 Stock market return (%, year-on-year) –9.9 25.0 –7.0 The Little Data Book on Financial Development 2014 193 Syrian Arab Republic Middle East & North Africa Lower middle income Gross domestic product ($ billions) data 59.1 Population (millions) data 22.0 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 7.9 13.9 20.4 Deposit money banks’ assets to GDP (%) 35.9 32.6 44.4 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 189 233 Bank branches per 100,000 adults (age 15+) .. 2.8 4.0 Account at a formal financial institution (%, age 15+) .. .. 23.3 Saved at a financial institution in the past year (%, age 15+) .. .. 5.1 Loan from a financial institution in the past year (%, age 15+) .. .. 13.1 Electronic payments used to make payments (%, age 15+) .. .. 3.1 Debit card (%, age 15+) .. .. 6.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 23.2 Firms with a checking or savings account (%) .. .. 92.7 Firms with bank loan/line of credit (%) .. .. 37.4 Firms using banks to finance investments (%) .. .. 20.7 Firms using banks to finance working capital (%) .. .. 16.0 Small firms with bank loan/line of credit (%) .. .. 26.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 0.1 3.5 2.5 Bank lending-deposit spread 5.0 1.8 3.7 Bank overhead costs to total assets (%) 0.1 1.6 1.4 Bank return on assets (%, after tax) 0.0 –0.6 0.5 Bank return on equity (%, after tax) –1.7 –8.0 3.9 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 0.7 7.9 8.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 93.2 75.4 Boone indicator .. 0.16 0.06 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 194 2014 The Little Data Book on Financial Development Europe & Central Asia Tajikistan Low income Gross domestic product ($ billions) 6.5 Population (millions) 7.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.8 13.5 .. Deposit money banks’ assets to GDP (%) 11.9 14.2 .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 354 475 Bank branches per 100,000 adults (age 15+) .. 5.6 6.7 Account at a formal financial institution (%, age 15+) .. .. 2.5 Saved at a financial institution in the past year (%, age 15+) .. .. 0.3 Loan from a financial institution in the past year (%, age 15+) .. .. 4.8 Electronic payments used to make payments (%, age 15+) .. .. 0.7 Debit card (%, age 15+) .. .. 1.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 2.4 Firms with a checking or savings account (%) .. 86.9 .. Firms with bank loan/line of credit (%) .. 33.6 .. Firms using banks to finance investments (%) 4.3 1.3 .. Firms using banks to finance working capital (%) 4.1 8.0 .. Small firms with bank loan/line of credit (%) .. 26.7 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. 9.9 3.0 Bank lending-deposit spread 15.9 4.9 16.6 Bank overhead costs to total assets (%) .. 10.2 6.0 Bank return on assets (%, after tax) .. 3.2 –0.5 Bank return on equity (%, after tax) .. 19.0 –3.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. 9.5 6.7 Bank nonperforming loans to gross loans (%) .. 11.3 14.9 Bank regulatory capital to risk-weighted assets (%) .. 30.4 25.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 100.0 Boone indicator .. 0.08 –2.16 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 195 Tanzania Sub-Saharan Africa Low income Gross domestic product ($ billions) data 23.9 Population (millions) data 46.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.3 10.3 15.8 Deposit money banks’ assets to GDP (%) 9.0 16.9 23.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 3.0 3.7 5.6 Stock market total value traded to GDP (%) 0.2 0.1 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 1.3 1.9 Account at a formal financial institution (%, age 15+) .. .. 17.3 Saved at a financial institution in the past year (%, age 15+) .. .. 11.9 Loan from a financial institution in the past year (%, age 15+) .. .. 6.6 Electronic payments used to make payments (%, age 15+) .. .. 3.5 Debit card (%, age 15+) .. .. 12.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 16.0 Firms with a checking or savings account (%) .. 86.2 .. Firms with bank loan/line of credit (%) .. 16.3 .. Firms using banks to finance investments (%) .. 6.8 .. Firms using banks to finance working capital (%) .. 17.3 .. Small firms with bank loan/line of credit (%) .. 11.3 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.5 7.0 6.2 Bank lending-deposit spread 15.2 8.9 8.2 Bank overhead costs to total assets (%) 4.5 4.8 5.5 Bank return on assets (%, after tax) 3.2 2.5 1.4 Bank return on equity (%, after tax) 35.5 29.6 14.1 Efficiency—Financial Markets Stock market turnover ratio (%) 2.6 2.2 2.6 Stability—Financial Institutions Bank Z-score 12.8 12.2 12.3 Bank nonperforming loans to gross loans (%) 25.2 .. .. Bank regulatory capital to risk-weighted assets (%) 3.8 .. .. Stability—Financial Markets Stock price volatility .. 5.3 4.7 Other Indicators—Financial Institutions Bank concentration (%) .. 52.3 50.9 Boone indicator 0.00 –0.10 –0.10 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.1 0.2 0.4 Stock market return (%, year-on-year) .. 1.4 6.1 196 2014 The Little Data Book on Financial Development East Asia & Pacific Thailand Upper middle income Gross domestic product ($ billions) 345.7 Population (millions) 66.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 101.2 93.9 101.9 Deposit money banks’ assets to GDP (%) 117.4 106.6 114.4 Nonbank financial institutions’ assets to GDP (%) .. 57.5 74.7 Depth—Financial Markets Stock market capitalization to GDP (%) 27.4 66.7 81.7 Stock market total value traded to GDP (%) 24.7 47.7 67.2 Outstanding domestic private debt securities to GDP (%) 12.1 11.1 12.7 Outstanding domestic public debt securities to GDP (%) 15.0 31.9 49.8 Outstanding international debt securities to GDP (%) 10.1 5.8 3.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 954 1,123 Bank branches per 100,000 adults (age 15+) .. 9.0 11.3 Account at a formal financial institution (%, age 15+) .. .. 72.7 Saved at a financial institution in the past year (%, age 15+) .. .. 42.8 Loan from a financial institution in the past year (%, age 15+) .. .. 19.4 Electronic payments used to make payments (%, age 15+) .. .. 8.6 Debit card (%, age 15+) .. .. 43.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 68.5 Firms with a checking or savings account (%) .. 99.6 .. Firms with bank loan/line of credit (%) .. 72.5 .. Firms using banks to finance investments (%) .. 74.4 .. Firms using banks to finance working capital (%) .. 71.9 .. Small firms with bank loan/line of credit (%) .. 55.1 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 76.8 69.6 61.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 57.3 55.8 52.8 Nonfin. corporate bonds to total bonds and notes outstanding (%) 29.7 20.1 14.6 Efficiency—Financial Institutions Bank net interest margin (%) 2.0 3.5 2.9 Bank lending-deposit spread 4.7 2.9 4.6 Bank overhead costs to total assets (%) 1.9 2.3 1.8 Bank return on assets (%, after tax) 1.4 0.8 1.1 Bank return on equity (%, after tax) 27.4 8.7 10.2 Efficiency—Financial Markets Stock market turnover ratio (%) 112.6 73.0 82.3 Stability—Financial Institutions Bank Z-score 3.7 4.9 6.3 Bank nonperforming loans to gross loans (%) 11.5 8.1 2.9 Bank regulatory capital to risk-weighted assets (%) 13.3 13.6 14.7 Stability—Financial Markets Stock price volatility 28.7 15.9 19.4 Other Indicators—Financial Institutions Bank concentration (%) 48.4 44.7 45.3 Boone indicator –0.05 –0.06 –0.05 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 6.1 7.9 8.2 Stock market return (%, year-on-year) –11.1 3.9 20.7 The Little Data Book on Financial Development 2014 197 Timor-Leste East Asia & Pacific Lower middle income Gross domestic product ($ billions) 1.1 data Population (millions) 1.2 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 5.4 24.3 11.5 Deposit money banks’ assets to GDP (%) 5.4 24.3 11.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 87.8 Firms with bank loan/line of credit (%) .. .. 6.9 Firms using banks to finance investments (%) .. .. 1.6 Firms using banks to finance working capital (%) .. .. 2.6 Small firms with bank loan/line of credit (%) .. .. 5.3 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) .. .. .. Bank lending-deposit spread 15.9 15.8 10.2 Bank overhead costs to total assets (%) .. .. .. Bank return on assets (%, after tax) .. .. .. Bank return on equity (%, after tax) .. .. .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score .. .. .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 198 2014 The Little Data Book on Financial Development Sub-Saharan Africa Togo Low income Gross domestic product ($ billions) 3.7 Population (millions) 6.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 15.0 17.0 26.5 Deposit money banks’ assets to GDP (%) 16.0 19.5 34.3 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 65 204 Bank branches per 100,000 adults (age 15+) .. 1.9 4.2 Account at a formal financial institution (%, age 15+) .. .. 10.2 Saved at a financial institution in the past year (%, age 15+) .. .. 3.6 Loan from a financial institution in the past year (%, age 15+) .. .. 3.8 Electronic payments used to make payments (%, age 15+) .. .. 0.0 Debit card (%, age 15+) .. .. 1.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 9.6 Firms with a checking or savings account (%) .. .. 94.2 Firms with bank loan/line of credit (%) .. .. 21.6 Firms using banks to finance investments (%) .. .. 16.9 Firms using banks to finance working capital (%) .. .. 16.9 Small firms with bank loan/line of credit (%) .. .. 22.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 9.8 3.5 3.6 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 8.0 6.4 4.4 Bank return on assets (%, after tax) 1.7 1.8 2.4 Bank return on equity (%, after tax) 24.6 16.0 27.2 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score –1.4 5.2 4.5 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 94.6 100.0 Boone indicator –0.06 –0.13 –0.08 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 199 Tonga East Asia & Pacific Upper middle income Gross domestic product ($ millions) data 428.7 Population (thousands) data 104.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 40.5 46.2 36.4 Deposit money banks’ assets to GDP (%) 45.0 48.4 41.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 20.6 21.5 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 100.0 Firms with bank loan/line of credit (%) .. .. 54.3 Firms using banks to finance investments (%) .. .. 33.9 Firms using banks to finance working capital (%) .. .. 3.0 Small firms with bank loan/line of credit (%) .. .. 52.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.3 5.6 6.0 Bank lending-deposit spread 5.9 5.4 7.5 Bank overhead costs to total assets (%) 2.8 4.3 3.6 Bank return on assets (%, after tax) 4.6 4.6 –0.8 Bank return on equity (%, after tax) 26.0 32.3 –6.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 7.4 6.3 4.3 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 200 2014 The Little Data Book on Financial Development Trinidad and Tobago High income Gross domestic product ($ billions) 23.5 Population (millions) 1.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 30.1 26.7 30.5 Deposit money banks’ assets to GDP (%) 36.5 32.3 42.8 Nonbank financial institutions’ assets to GDP (%) 11.4 5.6 2.7 Depth—Financial Markets Stock market capitalization to GDP (%) 53.1 88.7 58.0 Stock market total value traded to GDP (%) 1.8 2.9 0.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 9.7 6.9 12.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 75.9 Saved at a financial institution in the past year (%, age 15+) .. .. 44.4 Loan from a financial institution in the past year (%, age 15+) .. .. 8.4 Electronic payments used to make payments (%, age 15+) .. .. 9.3 Debit card (%, age 15+) .. .. 64.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 73.3 Firms with a checking or savings account (%) .. .. 99.9 Firms with bank loan/line of credit (%) .. .. 53.7 Firms using banks to finance investments (%) .. .. 36.7 Firms using banks to finance working capital (%) .. .. 63.8 Small firms with bank loan/line of credit (%) .. .. 46.8 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.3 3.5 5.1 Bank lending-deposit spread 8.0 6.1 6.5 Bank overhead costs to total assets (%) 4.5 3.2 3.7 Bank return on assets (%, after tax) 2.5 1.7 0.8 Bank return on equity (%, after tax) 19.6 15.2 4.4 Efficiency—Financial Markets Stock market turnover ratio (%) 3.7 2.5 1.2 Stability—Financial Institutions Bank Z-score 17.5 12.4 21.7 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 75.2 92.6 99.1 Boone indicator 0.01 –0.02 0.04 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 24.4 28.4 27.8 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 201 Tunisia Middle East & North Africa Upper middle income Gross domestic product ($ billions) data 46.4 Population (millions) 10.7 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 58.7 53.0 67.7 Deposit money banks’ assets to GDP (%) 64.1 58.4 72.4 Nonbank financial institutions’ assets to GDP (%) 7.1 2.5 3.4 Depth—Financial Markets Stock market capitalization to GDP (%) 11.3 10.6 22.0 Stock market total value traded to GDP (%) 2.1 1.4 3.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 7.3 10.5 6.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 665 757 Bank branches per 100,000 adults (age 15+) 12.0 13.0 17.2 Account at a formal financial institution (%, age 15+) .. .. 32.2 Saved at a financial institution in the past year (%, age 15+) .. .. 5.0 Loan from a financial institution in the past year (%, age 15+) .. .. 3.2 Electronic payments used to make payments (%, age 15+) .. .. 2.7 Debit card (%, age 15+) .. .. 21.0 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 30.7 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.1 3.3 2.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 2.4 2.5 2.1 Bank return on assets (%, after tax) 1.2 0.0 0.4 Bank return on equity (%, after tax) 11.7 0.1 5.3 Efficiency—Financial Markets Stock market turnover ratio (%) 12.7 14.4 10.9 Stability—Financial Institutions Bank Z-score 27.9 23.3 21.9 Bank nonperforming loans to gross loans (%) 21.0 20.9 .. Bank regulatory capital to risk-weighted assets (%) 10.6 12.4 .. Stability—Financial Markets Stock price volatility 8.2 7.1 14.0 Other Indicators—Financial Institutions Bank concentration (%) 44.8 44.0 41.1 Boone indicator –0.04 –0.03 –0.02 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.8 4.7 5.3 Stock market return (%, year-on-year) –3.2 30.7 –10.8 202 2014 The Little Data Book on Financial Development Europe & Central Asia Turkey Upper middle income Gross domestic product ($ billions) 774.8 Population (millions) 73.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 14.4 22.4 43.2 Deposit money banks’ assets to GDP (%) 35.3 43.7 64.6 Nonbank financial institutions’ assets to GDP (%) 1.2 1.1 .. Depth—Financial Markets Stock market capitalization to GDP (%) 21.8 29.7 31.0 Stock market total value traded to GDP (%) 47.2 39.3 50.9 Outstanding domestic private debt securities to GDP (%) 0.0 0.0 0.6 Outstanding domestic public debt securities to GDP (%) 26.8 28.3 25.5 Outstanding international debt securities to GDP (%) 8.4 7.3 7.2 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 1,419 922 Bank branches per 100,000 adults (age 15+) .. 13.9 18.3 Account at a formal financial institution (%, age 15+) .. .. 57.6 Saved at a financial institution in the past year (%, age 15+) .. .. 4.2 Loan from a financial institution in the past year (%, age 15+) .. .. 4.6 Electronic payments used to make payments (%, age 15+) .. .. 11.1 Debit card (%, age 15+) .. .. 56.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 57.1 Firms with a checking or savings account (%) .. 90.6 .. Firms with bank loan/line of credit (%) .. 56.8 .. Firms using banks to finance investments (%) 12.8 32.6 .. Firms using banks to finance working capital (%) 10.5 36.8 .. Small firms with bank loan/line of credit (%) .. 50.5 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 48.4 56.8 56.4 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 43.9 51.3 55.1 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. 0.0 0.0 Efficiency—Financial Institutions Bank net interest margin (%) 12.3 9.6 3.6 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.0 5.9 2.3 Bank return on assets (%, after tax) –3.5 4.6 1.6 Bank return on equity (%, after tax) –25.4 42.7 13.8 Efficiency—Financial Markets Stock market turnover ratio (%) 182.5 144.5 172.3 Stability—Financial Institutions Bank Z-score 0.7 6.2 5.3 Bank nonperforming loans to gross loans (%) 29.3 3.9 2.7 Bank regulatory capital to risk-weighted assets (%) 15.3 21.9 16.5 Stability—Financial Markets Stock price volatility 64.3 27.1 23.9 Other Indicators—Financial Institutions Bank concentration (%) 76.7 53.1 46.2 Boone indicator –0.92 –0.11 –0.04 Banking crisis dummy 1 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.8 4.6 5.0 Stock market return (%, year-on-year) –29.9 35.4 2.4 The Little Data Book on Financial Development 2014 203 Turkmenistan Europe & Central Asia Upper middle income Gross domestic product ($ billions) data 28.1 Population (millions) 5.1 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 0.4 Saved at a financial institution in the past year (%, age 15+) .. .. 0.1 Loan from a financial institution in the past year (%, age 15+) .. .. 0.8 Electronic payments used to make payments (%, age 15+) .. .. 0.0 Debit card (%, age 15+) .. .. 0.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 0.3 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.1 0.6 0.4 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 0.4 0.6 0.4 Bank return on assets (%, after tax) 0.6 1.5 0.7 Bank return on equity (%, after tax) 43.4 18.6 12.7 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 1.3 5.3 2.8 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. 204 2014 The Little Data Book on Financial Development East Asia & Pacific Tuvalu Upper middle income Gross domestic product ($ millions) 35.8 Population (thousands) 9.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.9 6.0 .. Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.8 5.0 .. Bank return on assets (%, after tax) 4.1 1.7 .. Bank return on equity (%, after tax) 39.2 10.4 .. Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 13.7 15.8 .. Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator .. .. .. Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 205 Uganda Sub-Saharan Africa Low income Gross domestic product ($ billions) data 16.8 Population (millions) data 35.1 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 5.9 7.9 13.8 Deposit money banks’ assets to GDP (%) 11.4 13.0 19.1 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 0.7 1.1 26.2 Stock market total value traded to GDP (%) 0.0 0.0 0.1 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 111 186 Bank branches per 100,000 adults (age 15+) .. 1.2 2.4 Account at a formal financial institution (%, age 15+) .. .. 20.5 Saved at a financial institution in the past year (%, age 15+) .. .. 16.3 Loan from a financial institution in the past year (%, age 15+) .. .. 8.9 Electronic payments used to make payments (%, age 15+) .. .. 3.1 Debit card (%, age 15+) .. .. 10.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 20.1 Firms with a checking or savings account (%) .. 85.8 .. Firms with bank loan/line of credit (%) .. 17.2 .. Firms using banks to finance investments (%) .. 7.7 .. Firms using banks to finance working capital (%) .. 14.0 .. Small firms with bank loan/line of credit (%) .. 15.4 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 12.7 12.4 10.1 Bank lending-deposit spread 14.2 9.6 8.8 Bank overhead costs to total assets (%) 6.3 6.9 6.5 Bank return on assets (%, after tax) 5.3 3.4 4.1 Bank return on equity (%, after tax) 54.5 33.0 28.7 Efficiency—Financial Markets Stock market turnover ratio (%) 2.4 5.5 0.4 Stability—Financial Institutions Bank Z-score 17.0 15.0 19.7 Bank nonperforming loans to gross loans (%) 6.5 2.9 2.2 Bank regulatory capital to risk-weighted assets (%) 23.1 17.9 20.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 61.1 66.1 55.6 Boone indicator –0.11 –0.12 –0.11 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.1 0.2 0.2 Stock market return (%, year-on-year) .. .. .. 206 2014 The Little Data Book on Financial Development Europe & Central Asia Ukraine Lower middle income Gross domestic product ($ billions) 163.4 Population (millions) 45.7 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.1 34.5 54.5 Deposit money banks’ assets to GDP (%) 12.9 36.8 64.5 Nonbank financial institutions’ assets to GDP (%) .. .. 4.2 Depth—Financial Markets Stock market capitalization to GDP (%) 4.4 31.0 20.1 Stock market total value traded to GDP (%) 0.7 0.8 2.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 6.6 6.8 11.4 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 2,861 3,335 Bank branches per 100,000 adults (age 15+) .. 3.9 1.6 Account at a formal financial institution (%, age 15+) .. .. 41.3 Saved at a financial institution in the past year (%, age 15+) .. .. 5.4 Loan from a financial institution in the past year (%, age 15+) .. .. 8.1 Electronic payments used to make payments (%, age 15+) .. .. 6.4 Debit card (%, age 15+) .. .. 33.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 40.4 Firms with a checking or savings account (%) .. 90.2 .. Firms with bank loan/line of credit (%) .. 31.8 .. Firms using banks to finance investments (%) 8.4 25.0 .. Firms using banks to finance working capital (%) 14.9 27.3 .. Small firms with bank loan/line of credit (%) .. 26.3 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.1 6.1 6.6 Bank lending-deposit spread 21.3 7.6 8.0 Bank overhead costs to total assets (%) 9.1 4.4 6.4 Bank return on assets (%, after tax) 0.7 1.0 –3.3 Bank return on equity (%, after tax) 7.9 7.7 –31.3 Efficiency—Financial Markets Stock market turnover ratio (%) 13.6 3.6 13.9 Stability—Financial Institutions Bank Z-score 3.4 5.1 1.7 Bank nonperforming loans to gross loans (%) 25.1 4.0 14.7 Bank regulatory capital to risk-weighted assets (%) 20.7 14.2 18.9 Stability—Financial Markets Stock price volatility .. .. 36.5 Other Indicators—Financial Institutions Bank concentration (%) 92.2 60.6 95.5 Boone indicator –0.64 –0.14 0.27 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.7 5.3 4.3 Stock market return (%, year-on-year) .. .. 6.0 The Little Data Book on Financial Development 2014 207 United Arab Emirates High income Gross domestic product ($ billions) data 360.2 Population (millions) 8.9 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. 58.6 60.8 Deposit money banks’ assets to GDP (%) .. 70.2 77.8 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 32.2 20.5 Stock market total value traded to GDP (%) .. 49.2 6.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. 19.5 26.0 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 14.7 14.5 Account at a formal financial institution (%, age 15+) .. .. 59.7 Saved at a financial institution in the past year (%, age 15+) .. .. 19.2 Loan from a financial institution in the past year (%, age 15+) .. .. 10.8 Electronic payments used to make payments (%, age 15+) .. .. 14.8 Debit card (%, age 15+) .. .. 55.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 59.6 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.8 2.7 3.2 Bank lending-deposit spread 4.4 .. .. Bank overhead costs to total assets (%) 1.4 1.4 1.3 Bank return on assets (%, after tax) 2.0 2.8 1.6 Bank return on equity (%, after tax) 14.4 21.3 11.5 Efficiency—Financial Markets Stock market turnover ratio (%) .. 142.9 21.4 Stability—Financial Institutions Bank Z-score 23.0 21.5 21.7 Bank nonperforming loans to gross loans (%) 15.7 6.4 6.2 Bank regulatory capital to risk-weighted assets (%) 19.8 17.3 21.2 Stability—Financial Markets Stock price volatility .. 30.0 12.5 Other Indicators—Financial Institutions Bank concentration (%) 50.7 44.1 60.9 Boone indicator –0.05 –0.06 –0.03 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 3.8 16.6 11.7 Stock market return (%, year-on-year) 17.3 –25.0 –3.1 208 2014 The Little Data Book on Financial Development United Kingdom High income Gross domestic product ($ billions) 2,444.9 Population (millions) 62.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 128.4 159.4 191.5 Deposit money banks’ assets to GDP (%) 128.4 159.4 191.5 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 157.3 139.5 126.5 Stock market total value traded to GDP (%) 122.9 171.5 125.7 Outstanding domestic private debt securities to GDP (%) 17.3 14.8 12.3 Outstanding domestic public debt securities to GDP (%) 27.8 31.0 58.6 Outstanding international debt securities to GDP (%) 37.4 71.3 131.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 26.5 24.9 Account at a formal financial institution (%, age 15+) .. .. 97.2 Saved at a financial institution in the past year (%, age 15+) .. .. 43.8 Loan from a financial institution in the past year (%, age 15+) .. .. 11.8 Electronic payments used to make payments (%, age 15+) .. .. 65.3 Debit card (%, age 15+) .. .. 87.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 96.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 63.0 71.9 64.2 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 54.3 62.9 64.9 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 1.1 1.5 1.5 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 2.1 1.5 0.6 Bank return on assets (%, after tax) 0.6 0.6 0.2 Bank return on equity (%, after tax) 7.8 17.0 3.8 Efficiency—Financial Markets Stock market turnover ratio (%) 80.6 124.0 96.1 Stability—Financial Institutions Bank Z-score 15.3 6.7 7.1 Bank nonperforming loans to gross loans (%) 2.6 0.9 3.9 Bank regulatory capital to risk-weighted assets (%) 13.2 12.9 15.8 Stability—Financial Markets Stock price volatility 17.3 10.5 17.7 Other Indicators—Financial Institutions Bank concentration (%) 32.0 51.8 57.6 Boone indicator –0.05 –0.05 –0.03 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 32.5 48.1 31.9 Stock market return (%, year-on-year) –12.1 16.7 4.6 The Little Data Book on Financial Development 2014 209 United States High income data Gross domestic product ($ billions) 14,991.3 Population (millions) data 311.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 51.1 57.5 52.6 Deposit money banks’ assets to GDP (%) 57.5 62.4 61.6 Nonbank financial institutions’ assets to GDP (%) 204.8 301.3 297.1 Depth—Financial Markets Stock market capitalization to GDP (%) 143.2 138.4 110.2 Stock market total value traded to GDP (%) 301.1 207.9 205.6 Outstanding domestic private debt securities to GDP (%) 98.8 109.9 91.9 Outstanding domestic public debt securities to GDP (%) 41.1 52.4 82.6 Outstanding international debt securities to GDP (%) 19.9 30.4 48.6 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 33.8 35.4 Account at a formal financial institution (%, age 15+) .. .. 88.0 Saved at a financial institution in the past year (%, age 15+) .. .. 50.4 Loan from a financial institution in the past year (%, age 15+) .. .. 20.1 Electronic payments used to make payments (%, age 15+) .. .. 64.3 Debit card (%, age 15+) .. .. 71.8 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 86.9 Firms with a checking or savings account (%) .. .. .. Firms with bank loan/line of credit (%) .. .. .. Firms using banks to finance investments (%) .. .. .. Firms using banks to finance working capital (%) .. .. .. Small firms with bank loan/line of credit (%) .. .. .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) 79.2 80.7 69.3 Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) 70.1 77.2 72.0 Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 3.8 3.2 3.6 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 3.4 2.9 2.9 Bank return on assets (%, after tax) 1.1 1.3 0.8 Bank return on equity (%, after tax) 12.7 12.5 7.3 Efficiency—Financial Markets Stock market turnover ratio (%) 198.2 180.5 186.2 Stability—Financial Institutions Bank Z-score 23.1 25.6 27.0 Bank nonperforming loans to gross loans (%) 1.3 0.8 4.1 Bank regulatory capital to risk-weighted assets (%) 12.9 13.0 15.3 Stability—Financial Markets Stock price volatility 22.1 10.4 18.6 Other Indicators—Financial Institutions Bank concentration (%) 23.1 32.7 35.4 Boone indicator –0.08 –0.08 –0.05 Banking crisis dummy 0 0 1 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 22.3 17.2 13.4 Stock market return (%, year-on-year) –16.3 8.6 11.2 210 2014 The Little Data Book on Financial Development Uruguay High income Gross domestic product ($ billions) 46.4 Population (millions) 3.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 49.4 22.3 21.9 Deposit money banks’ assets to GDP (%) 56.1 28.7 25.9 Nonbank financial institutions’ assets to GDP (%) 0.0 0.0 0.0 Depth—Financial Markets Stock market capitalization to GDP (%) 0.7 0.6 0.4 Stock market total value traded to GDP (%) 0.0 0.0 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 16.0 36.1 21.1 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 416 634 Bank branches per 100,000 adults (age 15+) .. 13.5 13.7 Account at a formal financial institution (%, age 15+) .. .. 23.5 Saved at a financial institution in the past year (%, age 15+) .. .. 5.7 Loan from a financial institution in the past year (%, age 15+) .. .. 14.8 Electronic payments used to make payments (%, age 15+) .. .. 3.2 Debit card (%, age 15+) .. .. 16.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 21.1 Firms with a checking or savings account (%) .. 88.0 90.8 Firms with bank loan/line of credit (%) .. 45.0 48.6 Firms using banks to finance investments (%) .. 6.9 13.7 Firms using banks to finance working capital (%) .. 20.6 26.4 Small firms with bank loan/line of credit (%) .. 37.5 41.9 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.8 6.5 4.9 Bank lending-deposit spread 27.0 7.4 5.2 Bank overhead costs to total assets (%) 8.7 7.3 4.4 Bank return on assets (%, after tax) –2.9 1.0 1.2 Bank return on equity (%, after tax) –22.2 12.7 11.2 Efficiency—Financial Markets Stock market turnover ratio (%) 0.9 1.6 0.4 Stability—Financial Institutions Bank Z-score 1.1 2.2 2.7 Bank nonperforming loans to gross loans (%) 12.4 3.7 1.3 Bank regulatory capital to risk-weighted assets (%) 18.1 16.9 14.3 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 44.5 45.7 65.3 Boone indicator –0.20 –0.11 –0.07 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 4.5 3.0 1.8 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 211 Uzbekistan Europe & Central Asia Lower middle income Gross domestic product ($ billions) data 45.3 Population (millions) data 29.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. .. Deposit money banks’ assets to GDP (%) .. .. .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 816 959 Bank branches per 100,000 adults (age 15+) .. 42.7 47.7 Account at a formal financial institution (%, age 15+) .. .. 22.5 Saved at a financial institution in the past year (%, age 15+) .. .. 0.8 Loan from a financial institution in the past year (%, age 15+) .. .. 1.5 Electronic payments used to make payments (%, age 15+) .. .. 4.3 Debit card (%, age 15+) .. .. 20.4 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 22.1 Firms with a checking or savings account (%) .. 93.8 .. Firms with bank loan/line of credit (%) .. 10.5 .. Firms using banks to finance investments (%) 1.4 8.2 .. Firms using banks to finance working capital (%) 2.7 15.0 .. Small firms with bank loan/line of credit (%) .. 9.5 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 8.5 4.8 3.8 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 10.2 6.4 4.1 Bank return on assets (%, after tax) 8.2 1.4 1.1 Bank return on equity (%, after tax) 27.2 10.8 11.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 19.6 6.0 5.4 Bank nonperforming loans to gross loans (%) .. 3.0 0.7 Bank regulatory capital to risk-weighted assets (%) .. 23.6 24.2 Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 95.0 76.5 78.8 Boone indicator –0.10 –0.06 –0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.2 6.3 4.5 Stock market return (%, year-on-year) .. .. .. 212 2014 The Little Data Book on Financial Development East Asia & Pacific Vanuatu Lower middle income Gross domestic product ($ millions) 786.3 Population (thousands) 241.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 35.2 40.3 63.9 Deposit money banks’ assets to GDP (%) 39.1 42.1 65.7 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 19.1 20.9 Account at a formal financial institution (%, age 15+) .. .. .. Saved at a financial institution in the past year (%, age 15+) .. .. .. Loan from a financial institution in the past year (%, age 15+) .. .. .. Electronic payments used to make payments (%, age 15+) .. .. .. Debit card (%, age 15+) .. .. .. Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. .. Firms with a checking or savings account (%) .. .. 96.0 Firms with bank loan/line of credit (%) .. .. 45.8 Firms using banks to finance investments (%) .. .. 41.4 Firms using banks to finance working capital (%) .. .. 33.2 Small firms with bank loan/line of credit (%) .. .. 45.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 5.6 4.3 5.1 Bank lending-deposit spread 7.6 6.3 3.9 Bank overhead costs to total assets (%) 8.1 3.3 5.1 Bank return on assets (%, after tax) 1.6 4.2 2.6 Bank return on equity (%, after tax) 25.5 37.1 18.0 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 6.9 14.8 15.7 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) .. .. .. Boone indicator –0.03 –0.01 0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 213 Venezuela, RB Latin America & Caribbean Upper middle income Gross domestic product ($ billions) data 316.5 Population (millions) data 29.5 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) .. .. 17.1 Deposit money banks’ assets to GDP (%) .. .. 22.6 Nonbank financial institutions’ assets to GDP (%) .. .. 0.4 Depth—Financial Markets Stock market capitalization to GDP (%) .. .. 1.2 Stock market total value traded to GDP (%) .. .. 0.0 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. 13.7 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 16.6 17.1 Account at a formal financial institution (%, age 15+) .. .. 44.1 Saved at a financial institution in the past year (%, age 15+) .. .. 13.6 Loan from a financial institution in the past year (%, age 15+) .. .. 1.7 Electronic payments used to make payments (%, age 15+) .. .. 15.0 Debit card (%, age 15+) .. .. 35.1 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 43.5 Firms with a checking or savings account (%) .. 98.2 96.5 Firms with bank loan/line of credit (%) .. 21.8 35.4 Firms using banks to finance investments (%) .. 35.7 35.3 Firms using banks to finance working capital (%) .. 24.9 27.1 Small firms with bank loan/line of credit (%) .. 19.7 25.6 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 15.5 7.9 7.8 Bank lending-deposit spread 6.9 5.2 2.6 Bank overhead costs to total assets (%) 9.6 5.4 5.3 Bank return on assets (%, after tax) 2.4 2.8 1.9 Bank return on equity (%, after tax) 18.5 17.2 18.8 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. 1.1 Stability—Financial Institutions Bank Z-score 12.1 13.1 8.0 Bank nonperforming loans to gross loans (%) 7.0 1.1 1.4 Bank regulatory capital to risk-weighted assets (%) 17.7 14.3 13.3 Stability—Financial Markets Stock price volatility 26.6 18.9 12.3 Other Indicators—Financial Institutions Bank concentration (%) 43.3 36.1 55.7 Boone indicator –0.15 –0.11 –0.10 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 2.5 1.9 1.2 Stock market return (%, year-on-year) 14.1 41.7 39.2 214 2014 The Little Data Book on Financial Development East Asia & Pacific Vietnam Lower middle income Gross domestic product ($ billions) 123.7 Population (millions) 87.8 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 35.6 64.4 107.7 Deposit money banks’ assets to GDP (%) 37.5 72.4 117.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. 7.7 15.4 Stock market total value traded to GDP (%) .. 0.9 9.3 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) 1.6 2.9 2.3 Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. 3.3 3.6 Account at a formal financial institution (%, age 15+) .. .. 21.4 Saved at a financial institution in the past year (%, age 15+) .. .. 7.7 Loan from a financial institution in the past year (%, age 15+) .. .. 16.2 Electronic payments used to make payments (%, age 15+) .. .. 2.5 Debit card (%, age 15+) .. .. 14.6 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.2 Firms with a checking or savings account (%) .. .. 89.4 Firms with bank loan/line of credit (%) .. .. 49.9 Firms using banks to finance investments (%) .. .. 21.5 Firms using banks to finance working capital (%) .. .. 47.0 Small firms with bank loan/line of credit (%) .. .. 36.5 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 2.8 3.6 4.0 Bank lending-deposit spread 4.1 3.5 3.0 Bank overhead costs to total assets (%) 1.6 1.8 1.8 Bank return on assets (%, after tax) 0.0 1.1 1.4 Bank return on equity (%, after tax) 7.7 16.6 15.3 Efficiency—Financial Markets Stock market turnover ratio (%) .. 22.8 30.0 Stability—Financial Institutions Bank Z-score 5.9 14.1 18.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility 13.6 22.0 22.5 Other Indicators—Financial Institutions Bank concentration (%) 84.3 67.2 45.9 Boone indicator –0.06 –0.08 –0.09 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 1.2 3.4 Stock market return (%, year-on-year) 122.5 92.7 –10.6 The Little Data Book on Financial Development 2014 215 West Bank and Gaza Middle East & North Africa Lower middle income Gross domestic product ($ billions) .. data Population (millions) 3.9 data 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 6.3 6.7 .. Deposit money banks’ assets to GDP (%) 9.1 9.5 .. Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 21.9 68.4 .. Stock market total value traded to GDP (%) 3.9 28.2 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. .. .. Bank branches per 100,000 adults (age 15+) .. .. .. Account at a formal financial institution (%, age 15+) .. .. 19.4 Saved at a financial institution in the past year (%, age 15+) .. .. 5.5 Loan from a financial institution in the past year (%, age 15+) .. .. 4.1 Electronic payments used to make payments (%, age 15+) .. .. 1.7 Debit card (%, age 15+) .. .. 10.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 19.3 Firms with a checking or savings account (%) .. 87.8 .. Firms with bank loan/line of credit (%) .. 18.0 .. Firms using banks to finance investments (%) .. 4.2 .. Firms using banks to finance working capital (%) .. 14.2 .. Small firms with bank loan/line of credit (%) .. 11.2 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 7.3 6.6 4.6 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 4.2 2.8 3.0 Bank return on assets (%, after tax) 1.0 2.5 2.0 Bank return on equity (%, after tax) 12.2 31.5 16.7 Efficiency—Financial Markets Stock market turnover ratio (%) 10.3 76.3 .. Stability—Financial Institutions Bank Z-score 12.4 15.0 17.9 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. 36.4 9.9 Other Indicators—Financial Institutions Bank concentration (%) .. 100.0 .. Boone indicator .. –0.03 0.00 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 8.0 9.7 11.5 Stock market return (%, year-on-year) –35.5 –6.1 –2.8 216 2014 The Little Data Book on Financial Development Middle East & North Africa Yemen, Rep.Lower middle income Gross domestic product ($ billions) 31.7 Population (millions) 23.3 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 4.6 5.3 5.5 Deposit money banks’ assets to GDP (%) 7.6 9.7 14.2 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) .. .. .. Stock market total value traded to GDP (%) .. .. .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 73 90 Bank branches per 100,000 adults (age 15+) .. 1.9 1.8 Account at a formal financial institution (%, age 15+) .. .. 3.7 Saved at a financial institution in the past year (%, age 15+) .. .. 1.1 Loan from a financial institution in the past year (%, age 15+) .. .. 0.9 Electronic payments used to make payments (%, age 15+) .. .. 0.6 Debit card (%, age 15+) .. .. 2.2 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 3.7 Firms with a checking or savings account (%) .. .. 31.3 Firms with bank loan/line of credit (%) .. .. 8.1 Firms using banks to finance investments (%) .. .. 4.2 Firms using banks to finance working capital (%) .. .. 6.0 Small firms with bank loan/line of credit (%) .. .. 5.7 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 4.3 5.5 4.2 Bank lending-deposit spread 4.5 5.0 5.0 Bank overhead costs to total assets (%) 2.5 2.1 2.1 Bank return on assets (%, after tax) 0.9 1.8 1.3 Bank return on equity (%, after tax) 10.2 25.9 11.6 Efficiency—Financial Markets Stock market turnover ratio (%) .. .. .. Stability—Financial Institutions Bank Z-score 21.0 20.1 30.0 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 79.7 82.4 100.0 Boone indicator 0.02 –0.01 0.01 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.0 0.0 0.0 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 217 Zambia Sub-Saharan Africa Lower middle income Gross domestic product ($ billions) data 19.2 Population (millions) data 13.6 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 6.7 7.8 0.0 Deposit money banks’ assets to GDP (%) 12.9 13.9 0.0 Nonbank financial institutions’ assets to GDP (%) .. .. .. Depth—Financial Markets Stock market capitalization to GDP (%) 6.2 11.1 17.7 Stock market total value traded to GDP (%) 0.8 0.2 0.6 Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 22 27 Bank branches per 100,000 adults (age 15+) .. 3.0 4.4 Account at a formal financial institution (%, age 15+) .. .. 21.4 Saved at a financial institution in the past year (%, age 15+) .. .. 11.8 Loan from a financial institution in the past year (%, age 15+) .. .. 6.1 Electronic payments used to make payments (%, age 15+) .. .. 3.3 Debit card (%, age 15+) .. .. 15.7 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 20.6 Firms with a checking or savings account (%) .. 95.0 .. Firms with bank loan/line of credit (%) .. 16.0 .. Firms using banks to finance investments (%) .. 10.2 .. Firms using banks to finance working capital (%) .. 15.0 .. Small firms with bank loan/line of credit (%) .. 6.3 .. Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 12.3 6.7 8.5 Bank lending-deposit spread 22.8 12.8 11.8 Bank overhead costs to total assets (%) 11.9 8.0 7.8 Bank return on assets (%, after tax) –0.2 1.6 2.0 Bank return on equity (%, after tax) –1.7 14.4 19.5 Efficiency—Financial Markets Stock market turnover ratio (%) 23.2 1.9 2.9 Stability—Financial Institutions Bank Z-score 12.8 11.8 12.1 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 62.1 54.7 53.0 Boone indicator –0.11 –0.10 –0.10 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 0.9 1.2 1.5 Stock market return (%, year-on-year) .. .. .. 218 2014 The Little Data Book on Financial Development Sub-Saharan Africa Zimbabwe Low income Gross domestic product ($ billions) 9.7 Population (millions) 13.4 2001 2006 2011 Depth—Financial Institutions Private credit by deposit money banks to GDP (%) 11.7 8.1 .. Deposit money banks’ assets to GDP (%) 19.5 15.9 .. Nonbank financial institutions’ assets to GDP (%) 6.3 1.7 .. Depth—Financial Markets Stock market capitalization to GDP (%) 68.9 198.9 .. Stock market total value traded to GDP (%) 11.1 18.2 .. Outstanding domestic private debt securities to GDP (%) .. .. .. Outstanding domestic public debt securities to GDP (%) .. .. .. Outstanding international debt securities to GDP (%) .. .. .. Access—Financial Institutions Bank accounts per 1,000 adults (age 15+) .. 488 162 Bank branches per 100,000 adults (age 15+) .. 3.5 4.6 Account at a formal financial institution (%, age 15+) .. .. 39.7 Saved at a financial institution in the past year (%, age 15+) .. .. 17.3 Loan from a financial institution in the past year (%, age 15+) .. .. 4.9 Electronic payments used to make payments (%, age 15+) .. .. 6.9 Debit card (%, age 15+) .. .. 28.3 Depositing/withdrawing at least once in a typical month (%, age 15+) .. .. 38.6 Firms with a checking or savings account (%) .. .. 93.5 Firms with bank loan/line of credit (%) .. .. 12.5 Firms using banks to finance investments (%) .. .. 13.0 Firms using banks to finance working capital (%) .. .. 12.7 Small firms with bank loan/line of credit (%) .. .. 4.2 Access—Financial Markets Value traded excluding top 10 traded companies to tot. val. traded (%) .. .. .. Mkt. cap. excluding top 10 companies to tot. mkt. cap. (%) .. .. .. Nonfin. corporate bonds to total bonds and notes outstanding (%) .. .. .. Efficiency—Financial Institutions Bank net interest margin (%) 23.3 .. 10.6 Bank lending-deposit spread .. .. .. Bank overhead costs to total assets (%) 7.6 18.1 10.3 Bank return on assets (%, after tax) 12.7 –2.2 3.1 Bank return on equity (%, after tax) 162.0 –13.1 27.8 Efficiency—Financial Markets Stock market turnover ratio (%) 32.8 8.3 .. Stability—Financial Institutions Bank Z-score 3.2 2.5 2.4 Bank nonperforming loans to gross loans (%) .. .. .. Bank regulatory capital to risk-weighted assets (%) .. .. .. Stability—Financial Markets Stock price volatility .. .. .. Other Indicators—Financial Institutions Bank concentration (%) 100.0 .. 68.8 Boone indicator 0.00 0.00 –0.47 Banking crisis dummy 0 0 0 Other Indicators—Financial Markets Number of listed firms per 1,000,000 people 5.7 6.3 5.6 Stock market return (%, year-on-year) .. .. .. The Little Data Book on Financial Development 2014 219 Glossary Account at a formal financial institution is the percentage of adults (age 15+) with an account (self or together with someone else) at a bank, credit union, another financial institution (e.g., cooperative, microfinance institu- tion), or the post office (if applicable) including adults who reported having a debit card. (Demirgüç-Kunt and Klapper, 2012) Bank accounts refers to the number of depositors with commercial banks per 1,000 adults (age 15+). (International Monetary Fund) Bank branches refers to the number of commercial bank branches per 100,000 adults (age 15+). (International Monetary Fund) Bank concentration is the percentage of assets of the three largest com- mercial banks to total commercial banking assets. Total assets include total earning assets, cash and due from banks, foreclosed real estate, fixed assets, goodwill, other intangibles, current tax assets, deferred tax, discontinued operations, and other assets. (C ˇ ihák, Demirgüç-Kunt, Feyen, and Levine, 2012) Bank lending-deposit spread is the difference between the lending rate charged by banks on loans to the private sector and the deposit interest rate offered by commercial banks on three-month deposits. (International Monetary Fund) Bank net interest margin refers to the accounting value of a bank’s net inter- est revenue as a percentage of its average interest-bearing (total earning) ˇ ihák, Demirgüç-Kunt, Feyen, and Levine, 2012) assets. (C Bank nonperforming loans to gross loans is the percentage of defaulting loans (payments of interest and principal past due by 90 days or more) to total gross loans (the total value of the loan portfolio). The loan amount recorded as nonperforming includes the gross value of the loan as recorded on the balance sheet, not just the amount that is overdue. (International Monetary Fund) Bank overhead costs to total assets refers to the operating expenses of a bank as a percentage of the value of all held assets. Total assets include total earning assets, cash and due from banks, foreclosed real estate, fixed assets, goodwill, other intangibles, current tax assets, deferred tax, discontinued operations, and other assets. (C ˇ ihák, Demirgüç-Kunt, Feyen, and Levine, 2012) Bank regulatory capital to risk-weighted assets refers to the capital ade- quacy of deposit takers. It is the percentage of total regulatory capital to held assets, weighted according to the risk of those assets. (International Monetary Fund) Bank return on assets refers to the percentage of commercial banks’ after ˇ ihák, Demirgüç-Kunt, Feyen, tax income to yearly averaged total assets. (C and Levine, 2012) 220 2014 The Little Data Book on Financial Development Glossary Bank return on equity refers to the percentage of commercial banks’ after tax income to yearly averaged equity. (Cˇ ihák, Demirgüç-Kunt, Feyen, and Levine, 2012) Bank Z-score captures the probability of default of a country’s banking system. Z-score compares the buffer of a country’s banking system (capitaliza- ˇ ihák, Demirgüç-Kunt, tion and returns) with the volatility of those returns. (C Feyen, and Levine, 2012) Banking crisis is a dummy variable for the presence of banking crisis (1=bank- ing crisis, 0=none). A banking crisis is defined as systemic if two conditions are met: (1) Significant signs of financial distress in the banking system (as indicated by significant bank runs, losses in the banking system, and/or bank liquidations), (2) Significant banking policy intervention measures in response to significant losses in the banking system. The first year that both criteria are met is considered as the year when the crisis started becoming systemic. The end of a crisis is defined the year before both real GDP growth and real credit growth are positive for at least two consecutive years. (Luc Laeven and Fabian Valencia, 2012 “Systemic Banking Crises Database: An Update.” IMF Working Paper No. 12/163) Boone indicator measures the degree of competition based on profit- efficiency in the banking market. It is calculated as the elasticity of profits to marginal costs. An increase in the Boone indicator implies a deterioration of the competitive conduct of financial intermediaries. (C ˇ ihák, Demirgüç-Kunt, Feyen, and Levine, 2012) Debit card is the percentage of adults (age 15+) with a debit card. (Demirgüç- Kunt and Klapper, 2012) Deposit money banks’ assets refers to total assets held by deposit money banks. Assets include claims on the domestic real nonfinancial sector; which includes central, state, and local governments; nonfinancial public enter- prises; and the private sector. Deposit money banks comprise commercial banks and other financial institutions that accept transferable deposits, such as demand deposits. Data are shown as a percentage of GDP. (International Monetary Fund and World Bank GDP estimates) Depositing/withdrawing at least once in a typical month is the percentage of adults (age 15+) who report using their account(s) to make deposits or withdrawals at least once in a typical month. This includes cash or electronic deposits, or any time money is put into or removed from account(s) by self or others. (Demirgüç-Kunt and Klapper, 2012) Electronic payments used to make payments is the percentage of adults (age 15+) who report using electronic payments (payments that one makes or that are made automatically including wire transfers or payments made online) in the past 12 months to make payments on bills or to make pur- chases using money from their accounts. (Demirgüç-Kunt and Klapper, 2012) The Little Data Book on Financial Development 2014 221 Glossary Firms using banks to finance investments refers to the percentage of firms in the formal sector that use banks to finance their investment. Data are shown as a percentage of total firms in the formal sector. (World Bank) Firms using banks to finance working capital refers to the percentage of firms in the formal sector that use banks to finance their working capital. Data are shown as a percentage of total firms in the formal sector. (World Bank) Firms with a bank loan/line of credit refers to the percentage of firms in the formal sector with a line of credit or a loan from a financial institution. Data are shown as a percentage of total firms in the formal sector. (World Bank) Firms with checking or savings account refers to the percentage of firms in the formal sector that have a checking or a savings account. Data are shown as a percentage of total firms in the formal sector. (World Bank) Gross domestic product is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degrada- tion of natural resources. Data are for 2010. (World Bank, Organisation for Economic Co-operation and Development, and United Nations) Loan from a financial institution is the percentage of adults (age 15+) who report borrowing any money from a bank, credit union, microfinance institu- tion, or another financial institution such as a cooperative in the past 12 months. (Demirgüç-Kunt and Klapper, 2012) Market capitalization excluding top 10 companies refers to the value of listed shares outside of the top ten largest companies to total value of all listed shares. (World Federation of Exchanges) Nonbank financial institutions’ assets refers to total assets held by finan- cial institutions that do not accept transferable deposits but that perform financial intermediation by accepting other types of deposits or by issuing securities or other liabilities that are close substitutes for deposits. It covers institutions such as saving and mortgage loan institutions, post-office savings institutions, building and loan associations, finance companies that accept deposits or deposit substitutes, development banks, and offshore banking institutions. Assets include claims on the domestic real nonfinancial sector; which includes central, state, and local governments; nonfinancial public enterprises; and the private sector. Data are shown as a percentage of GDP. (International Monetary Fund and World Bank GDP estimates) Nonfinancial corporate bonds to total bonds and notes outstanding refers to the total amount of domestic nonfinancial corporate bonds and notes outstanding as a percentage of the total amount of domestic bonds and notes outstanding, both corporate and noncorporate. (Bank for International Settlements) 222 2014 The Little Data Book on Financial Development Glossary Number of listed firms is the number of domestically incorporated companies listed on the country’s stock exchanges at the end of the year per 1,000,000 people. Investment companies, mutual funds, or other collective investment vehicles are excluded. (Standard & Poor’s, Global Stock Markets Factbook, and supplemental S&P data) Outstanding domestic private debt securities is the total amount of domestic private debt securities (amounts outstanding) issued in domestic markets. It covers long-term bonds and notes, commercial paper, and other short- term notes. Data are shown as a percentage of GDP. (Bank for International Settlements) Outstanding domestic public debt securities is the total amount of domestic public debt securities (amounts outstanding) issued in domestic markets. It covers long-term bonds and notes, treasury bills, commercial paper, and other short-term notes. Data are shown as a percentage of GDP. (Bank for International Settlements) Outstanding international debt securities is the total amount of interna- tional debt securities (amounts outstanding), both public and private. It covers long-term bonds and notes and money market instruments placed on international markets. Data are shown as a percentage of GDP. (Bank for International Settlements) Population is the midyear estimate of all residents regardless of legal status or citizenship, except for refugees not permanently settled in the country of asylum who are generally considered part of the population of their country of origin. Data are for 2010. (Eurostat, United Nations Population Division, and World Bank) Private credit by deposit money banks refers to financial resources provided to the private sector by domestic money banks. Domestic money banks comprise commercial banks and other financial institutions that accept transferable deposits, such as demand deposits. Data are shown as a per- centage of GDP. (International Monetary Fund and World Bank GDP estimates) Saved at a financial institution is the percentage of adults (age 15+) who report saving or setting aside any money using an account at a formal financial institution such as a bank, credit union, microfinance institution, or cooperative in the past 12 months. (Demirgüç-Kunt and Klapper, 2012) Small firms with a bank loan/line of credit is the percentage of small firms (less than 20 employees) in the formal sector with a line of credit or a loan from a financial institution to total small firms. (World Bank) Stock market capitalization refers to the total value of all listed shares in a stock market as a percentage of GDP. (Standard & Poor’s, Global Stock Markets Factbook, and supplemental S&P data) The Little Data Book on Financial Development 2014 223 Glossary Stock market return refers to the year-on-year changes in the growth rate of annual average stock market index. Annual average stock market index is constructed by taking the average of the daily stock market indexes. (Bloomberg) Stock market total value traded refers to the total value of all traded shares in a stock market exchange as a percentage of GDP. (Standard & Poor’s, Global Stock Markets Factbook, and supplemental S&P data) Stock market turnover ratio refers to the percentage of the total value of shares traded during the period divided by the average market capitaliza- tion for the period. (Standard & Poor’s, Global Stock Markets Factbook, and supplemental S&P data) Stock price volatility is the 360-day standard deviation of the return on the national stock market index. (Bloomberg) Value traded excluding top 10 traded companies refers to the value of all traded shares outside of the top ten traded companies as a share of total value of all traded shares in a stock market exchange. (World Federation of Exchanges) 224 2014 The Little Data Book on Financial Development